The Four Categories for Describing the Size of Audit Firms

question 22

Multiple Choice

The four categories for describing the size of audit firms include: the Big Four international firms; national firms; regional and local firms; and small firms. Which of the following is not a characteristic of a small firm?

• A) Most have fewer than 25 professionals.
• B) They perform audits on small and not-for-profit businesses.
• C) Tax services are more important to their practice than auditing.
• D) They do not audit publically traded companies.

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Definitions:

Hearing Aid

An electronic device worn in or behind the ear, designed to amplify sound for individuals with hearing loss.

Receiver Port

A component in medical devices designed to accept and secure another part, such as a tube or sensor, facilitating connection or function.

Pressure Equalization

The process of balancing the pressure of an environment with that of another environment, often referred to in the context of ear pressure equilibrium.

Hearing Aid

A device designed to amplify sound for individuals with hearing loss, improving their ability to communicate.