The report of a CPA on a review of the financial statements of a nonpublic entity should not include a statement that:
A. a review consists principally of inquiries of company personnel and analytical procedures applied to financial data.
B. management is responsible for the preparation and fair presentation of the financials in accordance with GAAP.
C. the CPA is not aware of any material modifications that should be made to the financial statements in order for them to be in conformity with generally accepted accounting principles.
D. the review was performed in accordance with generally accepted auditing standards.
Answer: D
You might also like to view...
If a project has an expected completion time of 15 weeks with a variance of 4 weeks, the probability that the project will be completed in 15 weeks is ______.
A. close to zero B. half C. more than 75% D. less than 25%
One implication of information asymmetry between investors and firm managers is that if the firm raises new capital by issuing debt rather than by selling stock, it will signal that the firm has very good prospects.?
Answer the following statement true (T) or false (F)
Article 101 of the TFEU and the Sherman Act prohibit:
a. monopolies. b. abuse of dominant market position. c. concerted anticompetitive conduct. d. All of the above
According to the International Fisher Effect, the forecast change in the spot rate between two countries is equal to:
A) the current spot rate multiplied by the ratio of the inflation rates in the respective countries. B) but the opposite sign to the difference between nominal interest rates. C) but the opposite sign to the difference between inflation rates. D) but the opposite sign to the difference between real interest rates.