This question is related to other public accounting services and reports.For each statement,description,or phrase (1-5),indicate the related type of engagement or report (A-F).
A.Reviews of unaudited financial statements of a nonissuer
B.Compilations of financial statements
C.Reviews of unaudited interim financial statements of a public company
D.Reports on financial statements prepared according to a special purpose framework.
E.Reports on compliance with contractual agreements or regulatory requirements.
F.Reports on elements,accounts,or items of a financial statement
____ 1.The information should conform to the accounting principles in ASC 270,"Interim Financial Reporting."
____ 2."In our opinion,the schedule of accounts receivable referred to above presents fairly,in all material respects."
____ 3.They are limited to presenting in the form of financial statements information that is the representation of management.
____ 4.As described in Note 2,these financial statements were prepared on the cash receipts and disbursements basis of accounting.
____ 5.They present a reasonable basis for expressing limited assurance that no material modifications should be made to the statements
Correct Answer:
Verified
Q53: Review work on unaudited financial statements consists
Q104: For each term listed below (items 1-5)select
Q105: Engagements to perform _ - _ procedures
Q106: The _ requires the presentation of interim
Q107: Public accounting firms have consistently looked for
Q108: In a compilation engagement,the accountant explicitly states
Q109: D.Prima,CPA,was engaged to review the unaudited financial
Q110: G.Wilson is on the board of directors
Q111: In _ engagements,justifiable departures from official pronouncements
Q113: The review of interim financial information _
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