A major purpose of the auditor's report on financial statements is to
a. Assure investors of the complete accuracy of the financial statements
b. Clarify for the public the nature of the auditor's responsibility and performance
c. Deter creditors from extending loans in high-risk situations
d. Describe the specific auditing procedures undertaken to gather evidence for the opinion
Ans: b. Clarify for the public the nature of the auditor's responsibility and performance
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________ is a process analysis technique that focuses on the customer and the producer's interaction with the customer
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If the present value of an investment's benefits equals the present value of the investment's costs, then the investor would earn a
A) return equal to the discount rate. B) negative rate of return. C) 0% rate of return. D) return greater than the discount rate.