Compiled Financial Statements of a Nonpublic Entity Should Be Accompanied

question 28

Multiple Choice

Compiled financial statements of a nonpublic entity should be accompanied by a report stating that:

• A) the accountant does not express an opinion or any other form of assurance on the financial statements.
• B) the scope of the accountant's procedures has not been restricted in testing the financial information that is the representation of management.
• C) the accountant assessed the accounting principles used and significant estimates made by management.
• D) a compilation consists primarily of inquiries of entity personnel and analytical procedures applied to financial data.
• E) the financial statements were not audited.

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The successful completion or achievement of a specific task, action, or job as defined by predetermined standards or objectives.

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Employees who manage other managers or teams and serve as the link between senior management and the operational staff.