The Performance of an Attestation Engagement on Prospective Financial Information

question 19

Multiple Choice

The performance of an attestation engagement on prospective financial information does not require which of the following?

• A) If the basis of the prospective financial information is different than the financial statements, a reconciliation of the two must be provided.
• B) Management must disclose all significant assumptions used in generating the prospective financial information.
• C) Management must disclose significant accounting policies and procedures used in generating the prospective financial information.
• D) Management must disclose the probability of obtaining the results included in the prospective financial information.

Know the default functions Excel uses to summarize data in PivotTables and PivotCharts.

Recognize how to expand and collapse data in PivotTables to show different levels of detail.

Learn how to filter data in PivotTables using different areas, such as row headings and the Filters area.

Comprehend how to format and select elements in PivotCharts and PivotTables for customization.

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Definitions:

Par Preferred Stock

A class of preferred shares issued at a designated face value, often affecting aspects of dividend payments and company equity structure.

Cash

Liquid funds available for use in the form of currency or bank balances.

Treasury Stock

Company-released shares that have been bought back, consequently lowering the overall available shares for trading.

Par Common Stock

The face value of a share of common stock as specified in the corporate charter, with no bearing on the market value.