An Accountant's Review Engagement Report Would NOT Include a Statement

question 56

Multiple Choice

An accountant's review engagement report would NOT include a statement that ________.

• A)the engagement was performed in accordance with generally accepted auditing standards (GAAS)
• B)an accountant reviews information supplied by the company
• C)a review does not constitute an audit and an audit opinion is not expressed on the financial statements
• D)the accountant is not aware of any material departure from generally accepted accounting standards (GAAP)

---

Definitions:

Net Income

The total revenue of a business minus total expenses, taxes, and costs, representing the profit made during a specific period.

Corporations

Legal entities established under corporate law that are distinct from their owners and shareholders, having rights and responsibilities and capable of conducting business.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Inventory Investment

The change in the total value of unsold goods and materials held by businesses over a specific period.