Which of the Following Statements Is Correct Regarding a Review

question 609

Multiple Choice

Which of the following statements is correct regarding a review engagement of a nonissuer's financial statements performed in accordance with the Statements on Standards for Accounting and Review Services (SSARS) ?

• A) An accountant must establish an understanding with the client in an engagement letter.
• B) An accountant must obtain an understanding of the client's internal control when performing a review.
• C) A review provides an accountant with a basis for expressing limited assurance on the financial statements.
• D) A review report contains an accountant's opinion of the financial statements taken as a whole.

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Definitions:

54th Massachusetts

An all-black regiment in the Union Army during the American Civil War, known for its bravery and made famous by its assault on Fort Wagner.

Fort Wagner

A fortification on Morris Island in South Carolina that was the site of an important battle during the American Civil War, known for the valiant charge of the 54th Massachusetts Volunteer Infantry, one of the first major African American units in the U.S. Army.

Integrated Regiment

A military unit consisting of soldiers from different races or backgrounds, combined to serve together as one entity.

Nation-State

A sovereign political entity characterized by a defined territory, permanent population, a government, and the capacity to enter into relations with other states.