GBH, an accounting firm, was hired to prepare financial statements for E-treme. Great State Bank has asked to see GBH's working papers since it is thinking about extending a $4 million line of credit to E-treme. Which of the following statements is correct?
A. GBH can show the bank the working papers because Great State Bank has a proper purpose.
B. GBH can show the bank the working papers because Great State Bank is a known third party.
C. GBH cannot show the bank the working papers under any circumstances as they are not finalized.
D. GBH cannot show the bank the working papers unless E-treme gives permission.
Answer: D
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