When Nathan applied for a loan to expand his sailboat business, the bank required that his financial statements be carefully examined by a CPA. The bank is requiring Nathan to have his financial statements
A) verified.
B) audited.
C) affirmed.
D) certified.
E) insured.

Question

Quizplus · Accepted Answer

The bank is requiring Nathan to have his financial statements audited, which involves a thorough examination and verification of the financial information by a CPA. This is a higher level of assurance than verification, affirmation, certification, or insurance.

When Nathan Applied for a Loan to Expand His Sailboat