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What is the significance of an audit for lenders and creditors?
  • a)
    It helps them calculate purchase consideration.
  • b)
    It assures them of future profitability.
  • c)
    It assists in determining income tax liabilities.
  • d)
    They can rely on audited financial statements for credit decisions.
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
What is the significance of an audit for lenders and creditors?a)It he...
Lenders and creditors can rely on audited financial statements while making credit decisions for a business. Audited accounts provide a level of assurance about the financial health and reliability of the business.
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What is the significance of an audit for lenders and creditors?a)It helps them calculate purchase consideration.b)It assures them of future profitability.c)It assists in determining income tax liabilities.d)They can rely on audited financial statements for credit decisions.Correct answer is option 'D'. Can you explain this answer?
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