Identify and describe the three types of business activities. ...

[madam-professor]

Identify and describe the three types of business activities.
 
  What will be an ideal response?

Question 2

SAS No. 99 emphasizes auditors should brainstorm fraud risks, increase professional skepticism, use unpredictable audit test patterns, and detect management override of internal controls.
  Indicate whether the statement is true or false

[pami445]

Answer to Question 1

The three types of business activities are called operating, investing, and financing. Operating activities are the day-to-day transactions involved in running a business. Investing activities involve the acquisition and disposal of assets used to run a business. Financing activities involve raising money from outside of a business and repaying it.

Answer to Question 2

T

[madam-professor]

Thank you

[pami445]

Happy to help you