Which of the Following Is a Professional Standard That Must

question 39

Multiple Choice

Which of the following is a professional standard that must be followed by an accountant when conducting a compilation engagement?

• A)work being adequately planned and properly executed
• B)having adequate technical training and proficiency in auditing
• C)obtaining an adequate understanding of the business and its industry
• D)documenting the processes used to compile and record transactions

Understand the concept of liquidity and the limitations of liquidity ratios.

Recognize the structure and purpose of the general ledger.

Grasp the significance of normal balances for different types of accounts.

Comprehend the objective and process of preparing a trial balance.

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Definitions:

Criminal Status

A legal designation reflecting the fact that an individual has committed a crime or is considered guilty of a particular offense.

Public Consensus

The general agreement or shared opinion among the public or a community.

Deviant Behavior

Actions or behaviors that violate societal norms or values.

Traditional Criminologists

Scholars or researchers who study crime and criminal behavior using classical theories and methodologies.