A CPA firm can issue a compilation report
A) only if the partners are independent.
B) only if all the partners and the staff in the office performing the engagement are independent.
C) if the partners have no material or direct immaterial interest in client.
D) even if it is not independent.
D
You might also like to view...
Which of the following is a limitation of aligning information systems (IS) with organizational strategy?
A) Adapting the IS to new versions of business processes is complex and time-consuming. B) Aligning the IS direction with the organizational strategy occurs only when organizations merge. C) Aligning the IS direction with the organizational strategy occurs only when the divisions are sold. D) The steering committee provides a forum for the IS department to voice its complaints about the users.
Apple Inc purchased a 70% interest in the Banana Company for $490,000 on January 1, 2018, when Banana Company had the following stockholders' equity: Common stock, $10 par $100,000 Paid-in capital in excess of par 250,000 Retained earnings 150,
000 At the time of Apple's purchase, Banana Company was an 80% owner of the Carrot Company. Also on that date, Carrot Company has a machine that has a market value in excess of book value of $20,000 . There is no difference between book and market value for any Banana Company assets. The goodwill that would result from this purchase is ____. a. $184,000 b. $180,000 c. $140,000 d. $126,000