When the Audited Financial Report of the Prior Year Is

question 58

Multiple Choice

When the audited financial report of the prior year is presented together with those of the current year, the continuing auditor's report covers:

• A)only the current year.
• B)both years.
• C)only the current year, but the prior year's report should be referred to.
• D)only the current year, but the prior year's report should be presented.

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Definitions:

Appropriate Statistic

An appropriate statistic refers to the selection of suitable statistical methods or tests that are fit to analyze the given data effectively.

Alternative Hypothesis

In hypothesis testing, the hypothesis that proposes a specific relationship between variables, opposed to the null hypothesis.

Non-directional Null Hypothesis

A type of null hypothesis that states there is no difference or effect, without specifying the direction of the difference or effect.

Directional Alternative Hypothesis

A type of alternative hypothesis that specifies the direction of the anticipated difference or effect between groups or variables.