Which of the following would an accountant not need to know when conducting a compilation?
A. The accounting basis on which the financial statements are to be presented.
B. A general understanding of the nature of the entity's business transactions and the form of its accounting records.
C. The accounting principles and practices of the industry in which the entity operates.
D. The accountant would need to know all of the other items listed when conducting a compilation.
Answer: D
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