Wednesday 1 February 2012
What is meant By Bank rate
The rate of interest used as a basis by banks for the rate they charge their customers
What is Bank quarantee
An undertaking given by a bank to settle a debt should the debtor fail to do so
What is Audit report
A report by the auditors appointed to audit the account of a company or organization. The auditors of a limited company are reguired to form an opinion as to whether the annual accounts of the company give a true and fair view of its profit or loss for the period ended
What is Audit opinion
An opinion contained in an audit report it expresses a view as to whether or not the financial statement audited have been prepared consistently using appropriate accounting policies
What is an Audit
Audit is an independent examination of an the subsequent expression of opinion on the financial statement of an organization
Who is accountant?
Accountant is a person who passed the accountancy examination of one of the recognized accounting bodies and completed the reguired work experience
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