An official examination of a financial report submitted by an individual or organization to determine whether it accurately represents expenditures, deductions, or other allowances determined by laws and regulations is called a(n):
A) line-item budget
B) audit
C) cost-benefit analysis
D) integrated budget

Question

Quizplus · Accepted Answer

An audit is the examination of financial reports or statements by an individual or organization to ensure accuracy and compliance with laws and regulations.

An Official Examination of a Financial Report Submitted by an Individual