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Which one of the following is NOT correct about the difference between accounting and auditing? Course: PRINCIPLES OF AUD Course Code: BAAC2301 Specialization: Accounting Accounting is usually carried out by an internal employee of the company; but auditing is carried out by an external person or independent agency Accounting starts usually where book-keeping ends; while auditing always starts where accounting ends Accounting covers all transactions, records and statements having financial implications; while auditing mainly covers final financial statements and rec Auditing is carried out on continuous basis with daily recording of financial transactions; while accounting is basically a periodic process which is usuall

Which one of the following is NOT correct about the difference between accounting and auditing? Course: PRINCIPLES OF AUD Course Code: BAAC2301 Specialization: Accounting Accounting is usually carried out by an internal employee of the company; but auditing is carried out by an external person or independent agency Accounting starts usually where book-keeping ends; while auditing always starts where accounting ends Accounting covers all transactions, records and statements having financial implications; while auditing mainly covers final financial statements and rec Auditing is carried out on continuous basis with daily recording of financial transactions; while accounting is basically a periodic process which is usuall

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter13: Emerging Topics In Managerial Accounting
Section: Chapter Questions
Problem 19MCQ
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Which one of the following is NOT correct about the difference between accounting and auditing? Course: PRINCIPLES OF AUD Course Code: BAAC2301 Specialization: Accounting Accounting is usually carried out by an internal employee of the company; but auditing is carried out by an external person or independent agency Accounting starts usually where book-keeping ends; while auditing always starts where accounting ends Accounting covers all transactions, records and statements having financial implications; while auditing mainly covers final financial statements and rec Auditing is carried out on continuous basis with daily recording of financial transactions; while accounting is basically a periodic process which is usuall
Transcribed Image Text:Which one of the following is NOT correct about the difference between accounting and auditing? Course: PRINCIPLES OF AUD Course Code: BAAC2301 Specialization: Accounting Accounting is usually carried out by an internal employee of the company; but auditing is carried out by an external person or independent agency Accounting starts usually where book-keeping ends; while auditing always starts where accounting ends Accounting covers all transactions, records and statements having financial implications; while auditing mainly covers final financial statements and rec Auditing is carried out on continuous basis with daily recording of financial transactions; while accounting is basically a periodic process which is usuall
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