Verification of the value of assets liabilities the balance of reserves provision and the amount of ...........

Auditing Vouching and verification

Verification of the value of assets, liabilities, the balance of reserves, provision and the amount of profit earned or loss suffered a firm is called _________.

Continuous audit.

Balance sheet audit.

Interim audit.

Partial audit.

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Explanation:

- Continuous Audit: This involves constantly auditing financial transactions and documentation throughout the year. It's useful for businesses with a high volume of complex transactions.

- Balance Sheet Audit: This focuses on verifying the accuracy and integrity of a company's balance sheet, including assets, liabilities, and equity. It ensures that financial statements reflect a true and fair view.

- Correct Answer: Balance Sheet Audit

- Interim Audit: Conducted between two annual audits, this type monitors ongoing financial activities and prepares the company for the year-end audit.

- Partial Audit: This involves auditing a specific segment or aspect of the financial records, not the entire financial statement.