Auditing Is

question 36

Multiple Choice

Auditing is

• A) the examination of financial statements by a CA or CPA in order to provide an opinion on their accuracy.
• B) a part of accounting that involves only recording of economic events.
• C) an area of accounting that involves such activities as cost accounting, budgeting, and accounting information systems.
• D) conducted by the Securities and Exchange Commission to ensure that registered financial statements are presented fairly.

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Definitions:

Promissory Note

A financial document in which one party promises to pay another party a specified sum of money at a defined future point in time or on demand.