Which of the Following Would Not Be Included in an Auditor's

question 4

Multiple Choice

Which of the following would not be included in an auditor's permanent file?

• A) the client's organizational chart
• B) copies of long-term contracts
• C) copies of accounts receivable confirmation letters
• D) prior years' audit reports

Understand the relationship between assets, liabilities, and equity in the accounting equation.

Comprehend the primary components and purpose of fundamental financial statements including the balance sheet, income statement, statement of retained earnings, and statement of cash flows.

Calculate and analyze the return on assets to assess a company's profitability in relation to its total assets.

Understand the impact of transactions on the accounting equation and financial statements.

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Definitions:

Monomer

A small molecule that can bind to other similar molecules to form a polymer.

Polystyrene

A synthetic aromatic hydrocarbon polymer made from the monomer styrene, used in the manufacture of a wide variety of consumer goods.

1,1-bistrifluoromethylethylene

1,1-bistrifluoromethylethylene is a chemical compound featuring two trifluoromethyl groups attached to a double-bonded carbon structure.

Cationic Polymerization

A type of polymerization where the growth of a polymer chain proceeds via cations as reactive intermediates.