Audit Documentation

question 90

Multiple Choice

Audit documentation

• A) Must be in electronic form.
• B) Must be in paper form only.
• C) Is not required, but is strongly recommended.
• D) May be in paper, electronic, or some other form.

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Definitions:

Used Motor Vehicle

Used motor vehicle refers to a car, truck, or other motor-powered transportation device that has had one or more previous owners before the current possessor.

Fair Credit Reporting Act

A federal law in the United States designed to ensure accuracy, fairness, and privacy of information in the files of consumer reporting agencies.

Credit Reports

Documents compiled by credit bureaus detailing an individual's credit history, including loans, repayments, late payments, and bankruptcy records, used by lenders to assess creditworthiness.

Natural Person

A living human individual recognized by law as having rights and obligations, as opposed to a legal entity like a corporation.