What are the advantages of the audit of a partnership firm
Answers
Answer:
Advantages of a partnership include that:
two heads (or more) are better than one. your business is easy to establish and start-up costs are low. more capital is available for the business.
Explanation:
Answer:
Advantages of Audit to a Partnership Firm
Partners can get an unbiased and independent opinion on the true state of affairs of the financial position of the firm.
Auditing will help in the maintenance of up-to-date accounts as well as in the detection and prevention of errors and frauds.
Explanation:
The following are some of the major advantages of a partnership firm:
Easy to Start. Partnership firms are one of the easiest to start. ...
Decision Making. ...
Raising of Funds. ...
Sense of Ownership. ...
Unlimited Liability. ...
Number of Members. ...
Lack of a Central Figure. ...
Trust of the General Public.