The financial statements are prepared by client management _______.
A)on the basis of conditions existing at year-end
B)on the basis of conditions that existed at the beginning of the year
C)on the basis of conditions existing throughout the year
D)and sent to the Securities and Exchange Commission (SEC) for approval

Question

Quizplus · Accepted Answer

The financial statements are prepared by client management on the basis of conditions existing at year-end. This means that the financial statements reflect the financial position and results of operations of the company at the end of the fiscal year. The financial statements are not sent to the SEC for approval, but they may be filed with the SEC for public disclosure.

The Financial Statements Are Prepared by Client Management _______