The Following Five Categories of Specific Matters That Might Be

question 90

Multiple Choice

The following five categories of specific matters that might be included in a management representation letter are consistent with ASA 580:

• A) financial reports; completeness of information; internal control; significant risks and uncertainties; and subsequent events.
• B) financial reports; accuracy of information; recognition, measurement, and disclosure; significant risks and uncertainties; and subsequent events.
• C) financial reports; completeness of information; recognition, measurement, and disclosure; going concern; and subsequent events.
• D) financial reports; completeness of information; recognition, measurement, and disclosure; significant risks and uncertainties; and subsequent events.

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Definitions:

Demands

The requirements or needs that must be met or fulfilled in various contexts, such as job responsibilities or market expectations.

Personal Life

The aspect of an individual's life that involves their personal interests, family, and non-professional activities.

Factional Groups

Subgroups within a larger group or organization, often formed around a specific common interest or agenda, sometimes causing conflict or rivalry.

Fused Companies

Entities that have combined their assets, resources, and operations through mergers or acquisitions to form a single, new organization.