A Management Representation Letter Is a Letter _______

question 44

Multiple Choice

A management representation letter is a letter _______.

• A)that is sent from the auditor to management, and then signed off on by the client's legal counsel
• B)that is sent from management to the auditor, and then signed off on by the client's legal counsel
• C)from management to the auditor acknowledging management's responsibility for the preparation of the financial statements
• D)from the auditor to management acknowledging management's responsibility for the preparation of the financial statements

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Definitions:

Calculates

The action of determining a numerical result based on given inputs or formulas, typically performed by software or a calculator.

Statistic

A numerical datum derived from a set of data, often used for analyzing and interpreting information.

Summary Function

A feature in applications that performs calculations on a set of values to return a single summary result, like sum or average.

Mathematical Function

A mathematical function is a relation between a set of inputs and a set of permissible outputs, where each input is related to exactly one output.