A Compiled Financial Report Should Be Accompanied by a Report

question 13

Multiple Choice

A compiled financial report should be accompanied by a report stating all of the following except:

• A) a compilation has been performed.
• B) the accountant does not express an opinion or any other form of assurance on the report.
• C) a compilation consists principally of inquiries of company personnel and analytical procedures applied to financial data.
• D) a compilation is limited to presenting in the form of a financial report, information that is the representation of management.

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Definitions:

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The act of completing and receiving an academic degree or diploma from an educational institution, marking the end of a particular course of study.

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