Answer:
True
Explanation:
A partnership is a type of business owned by two or more individuals known as partners. The partners join forces to exploits their talents and resources and profit from the business. A partnership may comprise of general and limited /silents partners.
The general partner participates in the day to day activities of the business. He or she makes business decisions on behalf of the partnership. Because a general partner is actively involved in managing the business, he has unlimited liability to its obligations. Should the partnership fail to meet its obligation, the assets of a general partner sold to settle the debts. He or she need not have been involved in creating the liability.
<span>E. Conceptual and decision</span><span>
The Internal auditor is the person who reviews the operating and accounting control procedures adopted by management to make sure the controls are adequate.
Internal audit within the company is not only done to review operating and accounting control procedures but to recommend ways that will further operation and accounting control within the company. </span>
