Verification of the value of assets, liabilities, the balance of reserves, provision, and the amount of profit earned or loss suffered a firm is called _____?

• Interim audit
• None of these
• Balance sheet audit
• Continuous audit

Related MCQs

• At the time of the retirement of a partner, the existing partner decided to value of Stock from Rs. 10, 000 to Rs.12,500, Building from Rs.50,000 to Rs.52,500, Sundry creditors from Rs.12,000 to Rs.13,000 and also agreed to take on record unrecorded liability of Rs.2000. What is the profit or loss on revaluation of Assets and liabilities?
• Trading & Profit & Loss account and balance sheet is prepared from ______?
• Which of the following statements is TRUE? Assets = Liabilities - Capital, Assets = Capital + Liabilities,Capital = Assets - Liabilities, None of these
• The difference between assets and liabilities is called as ______?
• Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
• The measure of how efficiently the assets resources are employed by the firm is called ____?
• Umar paid 7895 as usher at 10% of the total amount he earned. What was the total amount he earned?
• A shopkeeper sells one-third of his goods at a profit of 10%, another one-third at a profit of 20%, and the rest at a loss of 6%.What is his overall profit percentage?
• The excess of current assets over current liabilities is called:
• Assets-Liabilities =