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Author Question: Identify and describe the three types of business activities. What will be an ideal ... (Read 102 times)

madam-professor

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on: Jul 5, 2018
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


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pami445

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Reply #1 on: Jul 5, 2018
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

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Reply #2 on: Jul 5, 2018
Thank you :)


pami445

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Reply #3 on: Jul 5, 2018
Happy to help you


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