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 conducting auditing activities regularly throughout the year. It focuses on promptly detecting errors and ensuring accuracy in accounts.

- Balance Sheet Audit: Aimed at verifying the values of assets, liabilities, reserves, provisions, and profit or loss. This audit focuses on validating the records reflected in a company's balance sheet.

- Interim Audit: Conducted in the middle of a financial year, this audit aims to prepare interim financial statements or assess the financial position before the year-end audit.

- Partial Audit: Focuses only on particular sections of the financial records, rather than conducting a full audit of all financial statements and records.

- Correct Answer: Balance Sheet Audit