The Permanent Audit File Would Usually Include the Following

question 38

Multiple Choice

The permanent audit file would usually include the following:

• A)client's working trial balance
• B)summary of the risk assessment procedures performed
• C)organizational chart of the company's employees
• D)summary of the auditors test of controls for the current years audit

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Definitions:

Federal Tax Revenues

The income that the federal government receives from taxes, including income taxes, payroll taxes, and other taxation forms, used to fund public services and government operations.

Economy

The system of production, distribution, and consumption of goods and services within a specific geographic region.

Personal Income Tax

A tax levied on the income of individuals, with the rate usually increasing as income increases.

Adult Americans

Individuals living in the United States who are 18 years of age or older.