When Is It Necessary to Send a New Engagement Letter

question 155

Multiple Choice

When is it necessary to send a new engagement letter to a continuing client?

• A)Only when the terms of the engagement have changed.
• B)Every year.
• C)On a quarterly basis.
• D)Along with the CPA's bill for the first year of services.

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Definitions:

Median Earnings

The middle value of earnings in a given distribution, where half of the observation points are below and half above.

Labor Market

The marketplace where the supply of workers is met by the demand for them by employers, determining employment levels and wages.

Median Earnings

The midpoint value of earnings in a specified group, where half earn more and half earn less.

Labor Market

A marketplace where employers find workers and workers find jobs.