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Choose the correct statement about audits of corporations: Public corporations (those whose stock are traded...

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Accounting

Choose the correct statement about audits of corporations:

Public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP.

It is the employees of the firm being audited who perform the annual audit of the financial statements of that firm.

Outside auditors are paid by the government for auditing the financial statements of corporations.

Revenue Canada performs audits of corporations' financial statements

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