Discussion
With respect to Investigation, which of the following statement is incorrect
Answer: A
The incorrect statement is that an investigation is conducted for proprietors only. An investigation may be carried out for many parties, such as a prospective buyer or investor, a lender, the management, the court, or a regulator, and not only for the owner. The other statements are correct: it may cover more than one accounting year, it may be undertaken at any time if some transaction is suspected, and it has a wider scope than a routine audit, going beyond the balance sheet.
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