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What is the primary goal of accountancy?

A. To provide assurance on the accuracy and reliability of financial information
B. To provide accurate and useful information about a company’s financial performance and position
C. To determine an organization’s compliance with laws and regulations
D. To investigate financial crimes such as fraud and embezzlement

Show Answer…
Correct Answer: B. To provide accurate and useful information about a company’s financial performance and position
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A financial statement audit is primarily focused on which of the following?

A. Providing financial information to internal stakeholders
B. Determining an organization’s compliance with laws and regulations
C. Examining an organization’s financial statements and records to determine whether they are presented in accordance with relevant accounting standards
D. Investigating financial crimes such as fraud and embezzlement

Show Answer…
Correct Answer: C
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