Which One of the Following Statements Is Not True About

question 66

Multiple Choice

Which one of the following statements is not true about internal auditing?

• A)Internal auditing is an objective evaluation function.
• B)Internal auditing is established within an organization.
• C)Internal auditing's purpose is to provide assurance regarding the company's compliance with stated policies and procedures.
• D)Internal auditing is established as an independent service to regulatory bodies and creditors.

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Definitions:

Scrap Value

The estimated residual value of an asset after its useful life has ended.

Camera Unit

A complete devise for capturing photographs or videos, including the body, lens, and potentially other integrated components.

Double-Declining-Balance

Double-declining-balance is an accelerated method of depreciation that doubles the regular depreciation rate, accounting for most of the asset's depreciation in the early years of its life.

Scrap Value

The estimated residual value of an asset at the end of its useful life, often used in calculating depreciation.