External auditors perform independent audits
Indicate whether the statement is true or false.
Answer: TRUE
Explanation: External auditors are public accountants who audit or review clients' financial information to see whether it was prepared under generally accepted accounting principles. Such audits are called independent audits because they are done by firms that are independent of the company being audited and, therefore, are presumed to be unbiased.
Business
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a. True b. False
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Tony plans to deposit $1,000 at the end of each of the next three years. If his funds earn 5% compounded annually, how much will he have at the end of three years?
A) $3,150.00 B) $3,175.50 C) $3,152.50 D) $3,500.00 E) $4,310.10
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