Complete the Key Words,names,and Phrases in the Following Accountant's Report

question 90

Essay

Complete the key words,names,and phrases in the following accountant's report on a review of financial statements (balance sheet and statements of income,comprehensive income,retained earnings,and cash flows)of a nonissuer.
We have ___________ the accompanying _____________ of Dandy Company as of December 31,2012 and 2011,and the _____________________________________ ___________________________.A review includes primarily applying ________ _____________ to management's ______________ and making ________________ __________.A review is substantially ____________________ than an audit,the objective of which is the ___________________ regarding the financial statements ___________________.Accordingly,we _____________________________.
_______________ is responsible for the ____________________________ of the financial statements ______________________________________________ and for designing,implementing,and __________________________ relevant to the preparation and fair presentation of the financial statements.
Our responsibility is to ___________________ in accordance with ____________ _____________________________________ issued by the American Institute of Certified Public Accountants.Those standards _________________________ to obtain _______________ that there are _____________________ that should be made to the financial statements.We believe that the ___________________ provide a ___________________ for our report.
Based on our review,we are ________ of any ________________ that should be made to the accompanying financial statements in order for them to be in ____________ ________________________________.

---

Definitions:

Negative Terms

Phrases or words that convey unfavorable, pessimistic, or detrimental meanings, often used to describe adverse situations.

Bounded Rationality Model

A concept that suggests individuals make decisions based on the limited information available to them and their own cognitive limitations.

Tacit

Knowledge that is understood or implied without being explicitly stated, often difficult to transfer verbally.

Explicit

refers to something stated clearly and in detail, leaving no room for confusion or doubt.