An Accountant's Standard Report Issued After Compiling the Financial Statements

question 35

Multiple Choice

An accountant's standard report issued after compiling the financial statements of a nonpublic entity should state that:

• A)The accountant is not aware of any material modifications that should be made to the accompanying financial statements.
• B)A compilation consists principally of inquiries of company personnel and analytical procedures.
• C)A compilation provides no form of assurance on the financial statements.
• D)A compilation is greater in scope than a financial statement preparation form of association,but lesser than an audit.

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Definitions:

Caffeine Consumed

The amount of caffeine intake in a given period; not a key term in a statistical or general scientific context, thus NO.

P < 0.05

A statistical significance level indicating that there is less than a 5% probability the observed results occurred by chance, suggesting a significant difference or effect.

Directional

A hypothesis that specifies the direction of the expected relationship between variables.

Nondirectional

Refers to hypotheses or predictions that do not specify a predicted direction of the relationship between variables.