Answer the following questions: 1. What is an audit trailand why is it important in...Answer...

70.2K

Verified Solution

Question

Accounting

Answer the following questions:
      1. What is an audit trailand why is it important in accounting?
      2. There are several types ofcorporations. If you were to start your own business andincorporate; discuss what type of corporation you would want tobe.
            Explainwhy.

Answer & Explanation Solved by verified expert

4.2 Ratings (793 Votes)

Answer 1 Meaning of audit trail Audit trial also called audit log can be either a paper or electronically based trial that provides documented history of a transaction within a companyAn audit trial is the evidencesuch as purchase orders and invoices that a financial transaction actually occurredthis is a security relevant chronological record set of records that provide documentary See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text

In: AccountingAnswer the following questions: 1. What is an audit trailand why is it important in...Answer the following questions: 1. What is an audit trailand why is it important in accounting? 2. There are several types ofcorporations. If you were to start your own business andincorporate; discuss what type of corporation you would want tobe. Explainwhy.