Question

The audit that is made compulsory under statute is called _________.

A Statutory audit Correct Answer Incorrect Answer
B Partial audit. Correct Answer Incorrect Answer
C Complete audit. Correct Answer Incorrect Answer
D Continuous audit. Correct Answer Incorrect Answer

Solution

A statutory audit is made compulsory under statute, which means it is required by law. It involves the independent examination of an entity's financial statements and records to ensure compliance with legal requirements and regulations.

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