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March, CPA, Is Engaged by Monday Corp

Question 2

Multiple Choice

March, CPA, is engaged by Monday Corp., a client, to audit the financial statements of Wall Corp., a company that is not March's client. Monday expects to present Wall's audited financial statements with March's auditor's report to 1st Federal Bank to obtain financing in Monday's attempt to purchase Wall. In these circumstances, March's auditor's report would usually be addressed to:


A) Monday Corp., the client that engaged March.
B) Wall Corp., the entity audited by March.
C) 1st Federal Bank.
D) Both Monday Corp. and 1st Federal Bank.

Correct Answer:

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