[Solved] Final audit implies

Final audit implies

a) Audit of accounts at the end of the year

b) Finally checking of accounts to reveal frauds

c) Audit for submitting report immediately at the end of the year

d) Audit of banking companies

Answer: (a) Final audit implies audit of accounts at the end of the year. Audit which is conducted after completing the financial year is termed as periodic audit. Its continued till the books of accounts are finalized and financial statements are prepared.

More MCQ and Answers on Auditing

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