Jainesh KothariJainesh Kothari asked 2 years ago

 Audited account act as a effective safeguard against any undue advantage being taken by a working partner aa against non working partner?? HOW COME??

1 Answers
RaviRavi Staff answered 2 years ago

Non working partner rarely comes to office he has simply invested money, he doesn’t kmnow what goes on in days to day operations , he simply sees financial statements at year end . He relies on books and financial statements . Books can be manipulated to show personal expenses of working partner as business expense .
audit ensures such malpractices are detected and reported 

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