Which of the following would not be included in a CPA's report based upon a review of the financial statements of a nonpublic entity?
A) a statement that the review was in accordance with generally accepted auditing standards
B) a statement that all information included in the financial statements is the representation of management
C) a statement that the review primarily consists of analytical procedures and inquiries
D) a statement that the accountant has conducted a review
A
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The components needed to produce a computer clock cost twenty-five cents. What is the expected profit if the AITP club sponsor produces the optimal number of clocks?
A) $263.72 B) $262.54 C) $260.97 D) $269.41
Your parents paid $1,000 for a college fund bond when you were born. Today is your 20th birthday and you are ready to cash the bond which has grown to a value of $3,361.85. What was the average annual rate of return on your college fund bond?
A) 5.50% B) 6.25% C) 6.73% D) There is not enough information to answer this question.