An audit of business's financial reports, preformed by a third party to validate that it is an accurate representation of the economic status of the business, is known as: a) SEC b) GAAP c) Annual Report d) External Audit e) Summary Statement of Income

An audit of business's financial reports, preformed by a third party to validate that it is an accurate representation of the economic status of the business, is known as: a) SEC b) GAAP c) Annual Report d) External Audit e) Summary Statement of Income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

An audit of business's financial reports, preformed by a third party to validate that it is an accurate representation of the economic status of
the business, is known as:
a) SEC
b) GAAP
c) Annual Report
d) External Audit
e) Summary Statement of Income

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