Auditing standards define special purpose financial statements as including those prepared under the following basis(es):
A)regulatory basis.
B)tax basis.
C)contractual basis.
D)regulatory basis, tax basis, and contractual basis.

Question

Quizplus · Accepted Answer

According to auditing standards, special purpose financial statements include those prepared under regulatory basis, tax basis, and contractual basis. Therefore, the best choice is D.

Auditing Standards Define Special Purpose Financial Statements as Including Those