Which of the Following Is Not a Required Procedure in an Engagement

question 643

Multiple Choice

Which of the following is not a required procedure in an engagement to review the interim financial information of a publicly held entity?

• A) Obtaining corroborating evidence about the entity's ability to continue as a going concern.
• B) Comparing disaggregated revenue data for the current interim period with that of comparable prior periods.
• C) Obtaining evidence that the interim financial information reconciles with the accounting records.
• D) Inquiring of management about their knowledge of fraud or suspected fraud.

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Definitions:

Just Say No

An anti-drug campaign promoted in the 1980s by US First Lady Nancy Reagan, encouraging youth to resist peer pressure by simply saying "no" to drugs.

Tax Rate

The percentage at which an individual or corporation is taxed on their income or profits.

Strategic Defense Initiative

was a proposed missile defense system announced by President Ronald Reagan in 1983, intended to protect the United States from attack by ballistic strategic nuclear weapons.

Anti-Ballistic Missile Treaty

A treaty between the United States and the Soviet Union on the limitation of the anti-ballistic missile (ABM) systems used in defending areas against missile-delivered nuclear weapons (1972-2002).