Question

Which of the following documents is typically issued as part of the due-process activities of financial accounting?

Option 1: Income Statement
Option 2: Balance Sheet
Option 3: Audit Report
Option 4: Cash Flow Statement

Answer 1

An audit report is typically issued as part of the due-process activities of financial accounting.

Step-by-step explanation:

The Audit Report is typically issued as part of the due-process activities of financial accounting.

An audit report is a document prepared by an independent auditor who examines a company's financial statements to ensure their accuracy and conformity with relevant accounting standards. It provides an opinion on the fairness of the financial statements and the company's compliance with legal and regulatory requirements.