Which of the Following Procedures Should an Accountant Perform During

question 922

Multiple Choice

Which of the following procedures should an accountant perform during an engagement to review the financial statements of a nonissuer?

• A) Communicating significant deficiencies discovered during the assessment of control risk.
• B) Obtaining a client representation letter from members of management.
• C) Sending bank confirmation letters to the entity's financial institutions.
• D) Examining cash disbursements in the subsequent period for unrecorded liabilities.

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Definitions:

Lifespan

The maximum duration of life of a species, or the period during which an individual's physical and cognitive functions develop, mature, and decline.

Correlational Study

A research method that explores the relationship between two variables without attempting to establish a cause-and-effect link.

Causation

The action of causing something, referring to a relationship where one thing is understood to be the result of the activity of another.

Reliability And Validity

Terms used in research and evaluation to describe the consistency (reliability) and accuracy (validity) of a measure or test.