When an Independent CPA Assists in Preparing the Financial Statements

question 197

Multiple Choice

When an independent CPA assists in preparing the financial statements of a publicly held entity, but has not audited or reviewed them, the CPA should issue a disclaimer of opinion. In such situations, the CPA has no responsibility to apply any procedures beyond:

• A) Documenting that internal control is not being relied on.
• B) Reading the financial statements for obvious material misstatements.
• C) Ascertaining whether the financial statements are in conformity with GAAP.
• D) Determining whether management has elected to omit substantially all required disclosures.

Interpret and write the standard form of the equation of a hyperbola.

Use a graphing calculator for solving systems of equations.

Identify the center and vertices of hyperbolas from their equations.

Solve systems of equations by the method of elimination.