The Accountant's Standard Report for a Compilation Service Would Not

question 7

Multiple Choice

The accountant's standard report for a compilation service would not include a statement that

• A) A compilation service has been performed in accordance with standards established by the AICPA.
• B) Financial statement information is the representation of the owners of the business.
• C) Compilation service consists primarily of inquiries of company personnel and analytical procedures applied to financial data.
• D) Financial statements have not been audited or reviewed and the accountant does not express an opinion or any other form of assurance.

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Definitions:

Fronds

The large, divided leaves of ferns or palms, characterized by their complex structure and, in ferns, their role in reproduction through spores.

Sporophyte Generation

The diploid, spore-producing phase in the life cycle of plants that undergo alternation of generations.

Vascular Tissue

Specialized tissue in plants responsible for water and nutrient transport throughout the organism.

Megaspore

One of the two types of spores produced by seed plants; develops into a female gametophyte (embryo sac).