Process of testing and evaluating a business's accounting processes and controls.Select the correct termBudgetingBookkeepingAuditingAccounting

1. Identify the Question

The question asks for the correct term that describes the process of testing and evaluating a business's accounting processes and controls.

2. Analyze the Options

1. Budgeting: This refers to the process of creating a plan to spend money, not specifically focused on testing processes.
2. Bookkeeping: This involves the recording of financial transactions, which is a part of accounting but not specifically related to testing or evaluating processes.
3. Auditing: This is the systematic examination of financial records and the controls surrounding them to ensure accuracy and compliance.
4. Accounting: This is a broad term that encompasses all aspects of financial reporting, including bookkeeping and auditing.

3. Determine the Correct Answer

Given the definition and role of each term, auditing is the process that specifically involves testing and evaluating a business's accounting processes and controls.

Final Answer

The correct term is Auditing.