When a Practitioner Examines Projected Financial Statements,the Practitioner's Report Should

question 37

Multiple Choice

When a practitioner examines projected financial statements,the practitioner's report should include a separate paragraph that:

• A)Describes the limitations on the usefulness of the presentation.
• B)Provides an explanation of the differences between an examination and a review.
• C)States that the accountant is responsible for events and circumstances for a period not exceeding one year after the report's date.
• D)Disclaims an opinion on whether the assumptions provide a reasonable basis for the projection.

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Definitions:

Compensatory Damages

Monetary awards to a plaintiff to compensate for a loss, injury, or harm suffered as a result of another's breach of duty or negligence.

Civil Rights Act of 1991

A significant piece of American legislation that was enacted to provide clearer guidelines and remedies against discrimination in employment on the basis of race, color, religion, sex, or national origin.

Racial Discrimination

Unfair treatment or prejudice against individuals or groups based on their race or ethnicity.

Title VII

A section of the Civil Rights Act of 1964 that prohibits employment discrimination based on an individual's race, color, religion, gender, or national origin.