When the Accountant Has Performed a Review and Has Determined

question 120

Multiple Choice

When the accountant has performed a review and has determined that no material changes to the financial statements are needed, the first paragraph of the review report

• A) expresses positive assurance about the financial statements.
• B) notes the accountant's responsibility to conduct the review.
• C) identifies the entity and the period of financial statements subject to the review.
• D) specifies that management is responsible for the financial statements.

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Definitions:

Behavioral

Refers to human actions, reactions, and interactions under specific conditions or environments.

Demographic

Statistical data relating to specific populations, including factors like age, gender, income, and education.

Geographic

Pertaining to the physical features, population distribution, climate, and natural resources of a specific area.

GPS Technology

A satellite-based navigation system that allows users to determine their exact location (latitude, longitude, and altitude) on Earth.