Which of the Following Statements About Financial Audits Is True

question 42

Multiple Choice

Which of the following statements about financial audits is true?

• A)They are independent appraisals.
• B)They may be internal or external to the organization.
• C)They may be used to monitor accounting,financial,and operation systems within an organization.
• D)They may be conducted on a continual or an intermittent basis.
• E)All of these.

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Definitions:

Promisee

The person to whom a promise is made in a contract, who stands to benefit from the fulfillment of the promise.

Bind

To legally obligate oneself or another party to a contract or agreement, making it enforceable by law.

Illusory

Pertaining to an agreement or promise that lacks real consideration or enforceability, making it seem valid but without substance.

Video Games

Electronic games played through consoles, computers, or mobile devices, characterized by interactive gameplay and visual feedback.