Which of the Following Statements Should Not Be Included in an Accountant's

question 122

Multiple Choice

Which of the following statements should not be included in an accountant's standard report based on the compilation of an entity's financial statements?

• A) A statement that the compilation was performed in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of CPAs.
• B) A statement that the accountant has not audited or reviewed the financial statements.
• C) A statement that the accountant does not express an opinion but expresses only limited assurance on the financial statements.
• D) A statement that a compilation is limited to presenting, in the form of financial statements, information that is the representation of management.

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Definitions:

Hot Spot

A location on the Earth's surface that has experienced prolonged volcanic activity, thought to be caused by a rising mantle plume.

Igneous Feature

A geological formation or structure that has been created through the cooling and solidification of magma or lava.

Laccolith

A geological formation resulting from magma pushing up between layers of rock, creating a lens-shaped mass.

Columnar Joints

Natural formations of rock into long, regular columns, typically found in basalt flows, resulting from the cooling and contraction of lava.