If Compiled Financial Statements Presented in Conformity with the Cash

question 29

Multiple Choice

If compiled financial statements presented in conformity with the cash receipts and disbursements basis of accounting do not disclose the basis of accounting used,the accountant should:

• A)Disclose the basis in the notes to the financial statements.
• B)Clearly label each page "Unaudited."
• C)Disclose the basis of accounting in the accountant's report.
• D)Recompile the financial statements using generally accepted accounting principles.

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Definitions:

Structured Interview

An interview method where all candidates are asked the same set of predefined questions.

Reverse Discrimination

Refers to the act of giving preferential treatment to members of previously disadvantaged or minority groups, which is perceived as discriminating against those in the majority.

Latino Employees

Workers who identify as Latino, emphasizing the diverse cultural, national, or ethnic backgrounds they may come from.

Affirmative Action

Policies and procedures designed to combat discrimination and promote diversity in hiring and admissions.