Which of the Following Statements Is Not True Concerning Assurance

question 16

Multiple Choice

Which of the following statements is not true concerning assurance services?

• A)The growth in assurance services has been driven by users' demands for those services.
• B)Assurance services focus on improving the quality of information or its context, for decision makers.
• C)Unlike audit and attestation engagements, an engagement to perform assurance services does not require the CPA to consider information reliability.
• D)Auditing and attestation services can be viewed as subsets of assurance services since there is overlap in their objectives.

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Definitions:

Unit

A single, distinct item or entity that is a part of a larger group, system, or measure.

Break-Even Point

The point where the amount of goods produced or sold matches the total costs, leading to neither profit nor loss.

Contribution Format

An income statement format that separates fixed and variable costs, making it easier to see the contribution margin.

Income Statement

A report that outlines the financial results of a business, including its income, expenditures, and net profits or losses, for a defined accounting period.