Which of the Following Organizations or Groups Issue an Opinion

question 136

Multiple Choice

Which of the following organizations or groups issue an opinion on whether a company's financial statements are a fair representation of the company's financial situation?

• A) SEC
• B) Board of Directors
• C) Shareholders
• D) Independent Accountants (CPAs)

Recognize the global impact of IFRS and the efforts for convergence with U.S. GAAP by IASB and FASB.

Identify how financial information is utilized by various external parties including creditors, investors, and analysts.

Understand the principles of providing relevant, neutral, verifiable, and faithfully represented financial information.

Grasp the importance and implications of financial statement analysis for assessing company performance and risk.

---

Definitions:

Manufacturing Sector

The segment of the economy concerned with the production of goods through the processing of raw materials and components into finished products.

Small Businesses

Refers to privately owned corporations, partnerships, or sole proprietorships that have fewer employees and lower annual revenue than a regular-sized business or corporation.

Wholesaling

The selling of goods in large quantities at lower prices to be retailed by others.