If Compiled Financial Statements Presented in Conformity with the Cash

question 29

Multiple Choice

If compiled financial statements presented in conformity with the cash receipts and disbursements basis of accounting do not disclose the basis of accounting used,the accountant should:

• A)Disclose the basis in the notes to the financial statements.
• B)Clearly label each page "Unaudited."
• C)Disclose the basis of accounting in the accountant's report.
• D)Recompile the financial statements using generally accepted accounting principles.

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Definitions:

Consciousness

The quality or state of being aware of one's own existence, sensations, thoughts, surroundings, etc.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, responsible for voluntary movement, expressive language, and managing executive functions.

Parietal Lobe

A region of the brain located at the upper back area in the skull, crucial for processing sensory information from various parts of the body, understanding spatial orientation, and language and mathematics.

Personality Change

Alterations in an individual's behavioral patterns, thoughts, or feelings that can occur over time.