The Procedures in a Review of Interim Financial Information of a Public

question 87

Multiple Choice

The procedures in a review of interim financial information of a public company are similar to those in a SSARS review of financial statements for a:

• A) not-for-profit company.
• B) private company.
• C) governmental entity.
• D) nonpublic company.
• E) service entity.

---

Definitions:

Borrowers

are individuals, companies, or entities that take out loans from lenders with the obligation of repaying the borrowed amount plus interest or other charges.

Lenders

Individuals, institutions, or entities that provide financial resources to borrowers under agreed terms for repayment with interest.

Inflation

The tempo with which the broad level of prices for services and goods lifts, diminishing the power of purchase.

Real Value

The value of an object, service, or currency adjusted for inflation, representing its purchasing power.