A Report on an Examination of a Forecast with an Unqualified

question 95

Multiple Choice

A report on an examination of a forecast with an unqualified opinion would not address which of the following?

• A)The prospective results may not be achieved.
• B)The CPA assumes no responsibility to update the report for events and circumstances occurring after the date of the report.
• C)The fact that the examination was conducted in accordance with attestation standards established by the AICPA.
• D)The auditor's opinion on the adequacy of the company's internal controls.

Interpret income statements to identify variances from budgeted figures.

Evaluate the financial health of a business by analyzing its budget variances.

Understand the basic concepts and significance of budgeting in management.

Identify the sequential order in which different budgets are prepared.

---

Definitions:

Institutional Discrimination

Systemic policies or practices within organizations or societies that disadvantage certain groups.

Stereotype Threat

The feeling of worry or nervousness in circumstances where an individual might inadvertently validate a negative cliché associated with their societal group.

Ingroup Bias

The tendency to favor and prioritize the interests of one's own group over those of others, often leading to prejudice and discrimination.

Warmth and Competence

A social psychology model evaluating how individuals perceive others based on their warmth (friendliness, trustworthiness) and competence (efficacy, skill).