The Financial Examination of a Company's Financial Records Is Called

question 148

Multiple Choice

The financial examination of a company's financial records is called a(n) :

• A) audit.
• B) criminal investigation.
• C) financial analysis.
• D) appraisal.

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Definitions:

Transaction

A transaction is an agreement or exchange between two or more parties that is enforceable by law.

Debit Balance

A financial account status where the total debits exceed the total credits, indicating an amount owed.

Office Supplies

Items used in offices on a regular basis for the purpose of carrying out tasks and operations, including pens, paper, and staplers.

Asset Account

An account on a balance sheet that represents a resource controlled by the entity as a result of past transactions and from which future economic benefits are expected.