Multiple choice

Direction: Choose the correct option for the given question.

Financial audit aims at the verification of a

  1. cost accounting

  2. financial accounting

  3. management accounting

  4. none of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Financial audit is conducted to verify the accuracy and fairness of financial accounting records and statements. It examines whether financial transactions are properly recorded in the books of accounts and whether the final accounts present a true and fair view of the entity's financial position. Cost accounting and management accounting are internal systems not subject to statutory financial audit.

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