An Auditor May Report on Summary Financial Statements That Are

question 138

Multiple Choice

An auditor may report on summary financial statements that are derived from a complete set of audited financial statements only if the auditor

• A)expresses an unmodified opinion on the audited financial statements from which the summary financial statements are derived.
• B)indicates whether the information is fairly stated in all material respects in relation to the complete financial statements.
• C)determines that the summary financial statements include all the disclosures necessary for the complete set of financial statements.
• D)presents the summary financial statements in comparative form with the prior years' summary financial statements.

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Definitions:

Embryonic Period

The period that extends from the time the organism becomes attached to the uterus until the end of the 8th week of pregnancy, when all the major organs have taken primitive shape.

Cell's Environment

The surrounding conditions and factors that interact with and influence a cell's function and survival.

Genes

The segments on a DNA molecule that act as hereditary blueprints for the organism’s development.

Umbilical Cord

A flexible helical structure containing blood vessels that connects the developing organism to the placenta.