In Order to Perform a Review of Interim Financial Information,the

question 38

Multiple Choice

In order to perform a review of interim financial information,the auditor must

• A)have audited or be in the process of auditing the entity's latest financial statements.
• B)tested the entity's internal controls to determine that financial information is reliable.
• C)sent confirmation to third-parties concerning significant related-party transactions.
• D)established sufficient criteria to form an opinion on the fair presentation of the financial information.

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Definitions:

Anticline

A type of fold that is arched upward and has its oldest beds at its core, often associated with oil and gas reservoirs.

Syncline

A fold in rock layers that dips downwards, where the youngest layers are at the core of the fold.

Monocline

A type of geological fold in which all layers are inclined in the same direction; it is an example of a simple bend in rock layers.

Lineation

A linear structure in a metamorphic rock.