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:

Specific Learning Goal

A defined objective aimed at acquiring knowledge or a particular skill in a learning process.

Specific

Clearly defined or identified; precise and unambiguous.

Challenging Goals

Objectives that are ambitious and require substantial effort and planning to achieve, often motivating individuals or teams to improve their performance.

Equity Theory

A theory of motivation that suggests individuals are motivated by their perception of fairness in the distribution of rewards and resources.