In _____ Auditing, an Outside Certified Public Accountant (CPA) Verifies

question 17

Multiple Choice

In _____ auditing, an outside certified public accountant (CPA) verifies the records and financial statements of a company-usually once a year.

• A) financial
• B) internal
• C) employee-performance
• D) personnel

---

Definitions:

Capital Goods

Physical assets that a company uses in the production process to manufacture products and services that consumers will later use.

Opportunity Cost

Giving up possible benefits from other solutions when a single solution is chosen.

Economic Growth

The increase in the inflation-adjusted market value of the goods and services produced by an economy over a period of time.

Entrepreneurship

The act of creating, organizing, and running a new business venture, typically characterized by risk-taking and innovation to achieve profit and growth.