Which Communication Option(s)may Be Used When an Accountant Submits Compiled

question 10

Multiple Choice

Which communication option(s) may be used when an accountant submits compiled financial statements to be used only by management? $\begin{array}{c}&\text { Comportation Report }&\text { Written Engage Letter}\\\text { A) } & \text { Yes } & \text { Yes} \\\text { B) } & \text { Yes } & \text { No } \\\text { C) } & \text { No } & \text { Yes } \\\text { D) } & \text { No } & \text { No } \\\end{array}$

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Acquisition Value

Acquisition Value is the total cost incurred to acquire an asset, including the purchase price and all related expenses.

Acquired Net Assets

The total assets purchased from a company during an acquisition minus the liabilities assumed in the process.

Equipment Account

An account on the balance sheet where the cost of purchasing equipment is recorded and progressively depreciated over time.

Specific Identification

An inventory costing method that tracks the actual cost of each individual item in inventory and assigns this cost to the goods sold.