What Type of Audit Involves Gathering Evidence to Determine Whether

question 88

Multiple Choice

What type of audit involves gathering evidence to determine whether the person or entity under review has followed the rules?

• A)A compliance audit
• B)An operational audit
• C)A financial statement audit
• D)An integrated audit

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Definitions:

Taxes

Essential economic impositions or various kinds of levies exacted from a taxpayer by a state institution to underwrite the expenses of government and assorted public outlays.

Saving

The act of setting aside income for future use, often with the aim of achieving financial goals or providing for future needs.

Domestic Production

The total goods and services produced within the borders of a country.

Expenditures

The amount of money spent on various goods and services or to cover operating costs by individuals, businesses, or other entities.