Which of the following is not a characteristic of a small firm?
A)Most small firms have fewer than 25 professionals.
B)Small firms perform audits on small and not-for-profit businesses.
C)Tax services are more important than auditing services to the small firm.
D)Small firms are prohibited by the SEC from auditing publicly traded companies.

Question

Quizplus · Accepted Answer

Small firms are not prohibited from auditing publicly traded companies by the SEC, but they may lack the resources to do so. However, some small firms do audit publicly traded companies if they specialize in a particular industry.

Which of the Following Is Not a Characteristic of a Small