During a review of the financial statements of a nonpublic entity, the CPA finds that the financial statements contain a material departure from generally accepted accounting principles. If management refuses to correct the problem, the CPA should:
A. disclose the departure in a separate paragraph of the report.
B. attach a footnote explaining the effects of the departure.
C. issue a compilation report.
D. issue an adverse opinion.
Answer: A
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Which of the following is an ethical concern associated with doing experiments?
A) how to disguise the purpose of the research in a manner that does not violate the rights of the respondents B) how to find respondents for the experiment C) ensuring that the appropriate experimental design for the problem was used D) Both A and C are correct.
Lew Company's net income was $80,000 last year. The company has 20,000 shares of common stock and 5,000 shares of $100 par value, 7 percent preferred stock outstanding. There was no change in the number of common or preferred shares outstanding during the year. The earnings per share of common stock was:
A) $4.00 B) $3.20 C) $2.25 D) $3.72
Marla, a 55-year-old woman, needs to move out of town. She wants to connect with some of her old school friends and stay in touch with her ex-colleagues. In this case, which of the following is Marla most likely to use for this purpose?
A) SoundCloud B) YouTube C) Facebook D) Flickr
Designation is one of the five stages of the procurement cycle
Indicate whether the statement is true or false