In Operational Auditing,the Auditor Studies Business Operations and Makes Recommendations

question 62

Multiple Choice

In operational auditing,the auditor studies business operations and makes recommendations about all of the following except

• A)economic and efficient use of resources.
• B)the fairness of the financial statements.
• C)effective achievement of business objectives.
• D)compliance with company policies.

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Definitions:

Note Payable

A written promise to pay a specific amount of money, often bearing interest, at a future date.

Market Value

The amount for which something can be sold in a given market at a particular time.

Book Value

The net value of a company's assets minus its liabilities, as reported on the balance sheet, often used to assess a company's financial health.

Mortgage Payable

A long-term liability on a balance sheet, representing money owed on a property loan that is to be paid back over time.