The Basic Purpose of an Audit Is To

question 83

Multiple Choice

The basic purpose of an audit is to:

• A)Assure financial statements are in conformity with GAAP.
• B)Provide as much useful information to decision makers as possible,regardless of cost.
• C)Record changes in the financial position of an organization by applying the concepts of double entry accounting.
• D)Meet an organization's need for accounting information as efficiently as possible.

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Definitions:

Tilt

A slant or lean in a particular direction, often away from a perpendicular or horizontal position.

Glaciers

Large masses of ice and snow that move slowly over land, formed by the accumulation and compaction of snow.

Tilt

The angle at which a geological formation, like Earth's axis, deviates from the vertical or horizontal.

Glaciers

Large, moving masses of ice that form by the accumulation and compaction of snow, known for shaping landscapes through processes like erosion and deposition.