When an Accountant Is Associated with a Financial Statement as Part

question 23

Multiple Choice

When an accountant is associated with a financial statement as part of a personal financial planning engagement,the accountant's report should include a statement that

• A) We have not audited, reviewed, or compiled the statement.
• B) These financial statements are not designed for those who are not informed about such differences.
• C) We do not express an opinion or any other form of assurance on them.
• D) We are not aware of any material modifications that should be made.

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Definitions:

Reminder

A tool or alert designed to prompt an individual to recall or take action on a particular task or event.

Transaction Types

The various categories of financial activities, such as sales, purchases, payments, and receipts, recorded in accounting.

Banking And Credit Card

Financial services and products that involve managing checking and savings accounts, as well as issuing and servicing credit card accounts.

Vendors And Expenses

Refers to the companies or individuals from whom goods or services are purchased (vendors) and the costs incurred in the operation of a business (expenses).