Which of the Following Procedures Would Most Likely Be Conducted

question 37

Multiple Choice

Which of the following procedures would most likely be conducted by an accountant during a compilation engagement?

• A)Enquire of management with respect to the purpose of new capital assets.
• B)Compare gross profit on a year-by-year basis over the last five years.
• C)Circularize negative accounts receivable confirmations.
• D)Assemble and recalculate the financial statement allocations.

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Definitions:

Propositions

Statements that express ideas or opinions that can be either true or false.

Camping Trip

An excursion, typically involving overnight stays away from home in a shelter such as a tent or recreational vehicle.

Disjunctive

Pertaining to a logical relation between propositions where the truth of one means the falsity of the other; often involving an "either...or" scenario.

Syllogistic Steps

Logical procedures involving a form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises); a major premise and a minor premise.