Which One of the Following Is Not an Example of an Additional

question 2

Multiple Choice

Which one of the following is not an example of an additional procedure that typically relates to the discovery of subsequent events?

• A)Partner review of all workpapers.
• B)Reading interim financial statements and comparing them to the audited statements to note significant changes.
• C)Reading the board of directors' minutes for all meetings during the year and after year-end through the end of field work.
• D)Management inquiry.

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Definitions:

Interlocking Directorates

The practice of having the same individuals serve on the boards of directors of multiple companies, potentially influencing competitive practices.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed in 1890 to preserve free and unfettered competition as the rule of trade.

U.S. Justice Department

The federal executive department responsible for enforcing the laws of the United States and administering justice.

Federal Trade Commission

A U.S. federal agency established in 1914 to promote consumer protection and the elimination and prevention of anticompetitive business practices.