An Accountant's Standard Report on a Compilation of a Projection

question 325

Multiple Choice

An accountant's standard report on a compilation of a projection should not include a statement that:

• A) There will usually be differences between the forecasted and actual results.
• B) The hypothetical assumptions used in the projection are reasonable in the circumstances.
• C) The accountant has no responsibility to update the report for future events and circumstances.
• D) The compilation of a projection is limited in scope.

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Definitions:

Pseudocoelom

A fluid-filled body cavity lying inside the external body covering but outside the innermost gut tube, found in some invertebrates.

Phylogeny

The evolutionary history and lineage of species or a particular group of organisms.

Deuterostome

A classification of animals defined by their developmental characteristics, where the anus forms before the mouth during embryonic development.

Echinoderms

Echinoderms are a group of marine invertebrates that include sea stars, sea urchins, and sand dollars, characterized by radial symmetry and a unique water vascular system.