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What is the term used to describe the audit of accounts of private enterprises such as sole trading concerns and partnership firms?
  • a)
    Government audit
  • b)
    Public audit
  • c)
    Private audit
  • d)
    Statutory audit
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the term used to describe the audit of accounts of private ent...
The audit of accounts of private enterprises like sole trading concerns and partnership firms is known as private audit. This type of audit is not compulsory by law and is undertaken voluntarily by the owners.
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What is the term used to describe the audit of accounts of private enterprises such as sole trading concerns and partnership firms?a)Government auditb)Public auditc)Private auditd)Statutory auditCorrect answer is option 'C'. Can you explain this answer?
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