Any Attempt to Verify Outcomes and to Compare Them with Standards

question 37

Multiple Choice

Any attempt to verify outcomes and to compare them with standards can be considered a(n) _____ activity, although many smaller firms do not use this word.

• A)ethical
• B)auditing
• C)formal
• D)informal
• E)accounting

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Definitions:

Forged Signature

The act of illegally replicating another person’s signature for deceptive purposes.

Presentment Warranties

Assurances given by the presenter of a negotiable instrument regarding its validity and their authority to enforce it.

Warrantor

An individual or entity that guarantees the condition of a product or service.

Ratification

Ratification is the formal approval of an agreement, treaty, or contract, often by voting or through some legal process, making it officially valid.