When Ursula purchased her home, the title insurance policy she received did NOT include which of following ?
A) A legal description of the insured real estate
B) A record of all of the previous owners of the property
C) A list of defects not covered
D) The kind of estate or interest being insured
Answer: B) A record of all of the previous owners of the property
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Indicate whether the statement is true or false
The basic purpose of audited financial statements is to:
A. Provide the reporting company with assurance that all assets are protected from theft or embezzlement. B. Prepare financial statements for companies that do not have their own accounting departments. C. Provide users of the financial statements with assurance that the statements are verifiable and are presented in conformity with generally accepted accounting principles. D. Provide both the reporting company and the users of the statements with a written guarantee that the statements are error-free.