While Inspecting Documents,auditors Should Use Original Documents Rather Than Copies,because

question 17

True/False

While inspecting documents,auditors should use original documents rather than copies,because copies are easy for management to falsify.

---

Definitions:

Discounting

A financial process of determining the present value of a payment or a series of payments that will be made in the future.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.

Down Payment

An initial upfront portion of the total amount due, typically associated with the purchase of expensive items like cars or real estate.

Present Value Calculation

A financial process that determines the current worth of a future cash flow, stream of cash flows, or an investment, based on a specific discount rate.