Question

Auditing is the luxury for which company?
a) Joint Stock Company
b) Sole Trader
c) Partnership Fim
d) Government Company ​

Answer 1

Answer:

Explanation: sole trader

Answer 2

It is a luxury for a sole trader.

• Companies make use of the audit process to find areas for change. It is overall a costly affair.
• These are employed to assess a business's performance or to carry out a process in accordance with predetermined criteria, metrics, or laws.
• However, an average businessman may see auditing as a luxury.
• The costs and compensation paid for audit services serve as a waste of money for them.
• Further, they need to pay the audit amount from their profits, which thereby decreases the overall profit.

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