Which of the Following Procedures Is Usually Included in a Review

question 64

Multiple Choice

Which of the following procedures is usually included in a review engagement of a nonpublic entity?

• A)The confirmation of accounts receivable.
• B)A study and evaluation of internal control.
• C)An inquiry concerning subsequent events.
• D)The observation of physical inventory counts.

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Definitions:

Board Of Directors

A group of individuals elected by the shareholders of a corporation to oversee the management and make major decisions about the company's policies and strategies.

SEC

Securities and Exchange Commission - A U.S. federal agency responsible for regulating the securities industry, enforcing federal securities laws, and overseeing the stock and options exchanges.

Takeover

The acquisition of one company by another, where the acquiring company gains control over the target company.

FTC

The Federal Trade Commission (FTC) is an independent agency of the United States government established to protect consumers and promote competition.