Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer the following questions:      1. what

Answer the following questions:      1. What is an audit trailand why is it important in...Answer...

70.2K

Verified Solution

Question

Accounting

Answer the following questions:

      1. What is an audit trailand why is it important in accounting?
      2. There are several types ofcorporations. If you were to start your own business andincorporate; discuss what type of corporation you would want tobe.
            Explainwhy.

Answer & Explanation Solved by verified expert
4.2 Ratings (793 Votes)
Answer 1 Meaning of audit trail Audit trial also called audit log can be either a paper or electronically based trial that provides documented history of a transaction within a companyAn audit trial is the evidencesuch as purchase orders and invoices that a financial transaction actually occurredthis is a security relevant chronological record set of records that provide documentary    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

In: AccountingAnswer the following questions:      1. What is an audit trailand why is it important in...Answer the following questions:      1. What is an audit trailand why is it important in accounting?      2. There are several types ofcorporations. If you were to start your own business andincorporate; discuss what type of corporation you would want tobe.            Explainwhy.

Other questions asked by students

Q

Hanna Frontier Software Solutions, Inc. (HFSI) has been investigating the possibility of developing a simulation software that...

Statistics
Q

A researcher plans to do an experiment in the college setting concerning the effects of class...

Basic Math
Q

Assignment 5 17 points Given is the following optimization problem max 5x1 3x2 S t...

Geometry
Q

Solve the b 127 LAL LE a 00 triangle 168 B 40 LA 2 22...

Basic Math
Q

versus H 7100 a simple random sample size ulation that is known to be normally...

Statistics
Q

Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable...

Accounting
Q

in 2022, tolliver's house burned down due to a presidentially declared natural disaster and all...

Accounting
Q

Cash flows from financing activities are determined by: A. Analyzing long-term asset and short term...

Accounting
Q

Assume the following information pertaining to Star Company: Prime costs...

Accounting
Q

** Please answer with clear answers and explanations. Will up vote ! *** Task...

Accounting
Q

Pita Pat sells fast-food franchises Pita Pal receives $83,000 from a new franchisee for providing...

Accounting
Q

Utilizing the fictitious company Tag-It Corporation, prepare next year's forecast with a pro forma income...

Finance