Which of the Following Is not included as a Part

question 30

Multiple Choice

Which of the following is not included as a part of the description of the auditor's responsibility in a nonpublic company unmodified report?

• A)The audit was performed in accordance with generally accepted accounting principles.
• B)An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.
• C)The procedures selected depend on the auditor's judgment.
• D)An audit includes evaluating the appropriateness of accounting policies used.

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Definitions:

Debenture Bonds

Bonds that are unsecured and are issued only on the general credit of a corporation.

Quoted

Refers to the current price of a security, commodity, or currency that is stated in communication or trading.

Bond

A fixed income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental.

Sell

The act of giving or handing over something in exchange for money or other compensation.