Which of the Following Would Best Be Described as an Assurance

question 5

Multiple Choice

Which of the following would best be described as an assurance service?

• A) Preparing a report representing a client's position during an IRS audit.
• B) Working with a client to develop a more efficient method of processing financial transactions.
• C) Offering an opinion concerning the accuracy of statements made on a client's website relating to the client's online privacy policies.
• D) Assisting a client in identifying potential sources of capital for potential acquisitions.

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Definitions:

Operating Activities

The primary revenue-producing activities of a business, involving transactions and events that affect net income.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue.

Investing Activities

Financial activities related to the acquisition and disposal of long-term assets and other investments not included in cash equivalents.

Net Cash Provided

The total amount of cash generated by a company's operations, investments, and financing activities within a specific time frame.