In Large Companies,certified Internal Auditors Are Usually Responsible for Preparing

question 188

True/False

In large companies,certified internal auditors are usually responsible for preparing tax returns and developing tax strategies for businesses.
Internal auditors perform audits for organizations and also look into operational efficiencies and effectiveness.Tax returns are prepared by tax accountants.

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Definitions:

Total Profits

The net income a company generates after paying all expenses, taxes, and costs, calculated by subtracting total costs from total revenues.

Entry Restrictions

Regulations or barriers that limit the ability of new competitors to enter and operate in a particular market.

Revenue Function

A mathematical representation that calculates the total revenue generated from the sale of goods or services at different prices.

Total Profits

The overall financial gain made by a business after subtracting total costs from total revenues, indicating the business's financial health over a period.