A. Testing of accounts and records B. Checking of selected number of transactions C. Examination of adjusting and closing entries D. Checking of all transactions recorded
A. it is conducted at regular interval B. it may be carried out on daily basis C. it is needed when the organization has a good internal control system D. it is expensive
A. Verification of assets and liabilities B. Vouching of income and expense accounts related to assets and liabilities C. Examination of adjusting and closing entries D. Routine checks
