One of the first steps that should be performed for a review of a nonpublic entity's financial statements is to
A) read the financial statements.
B) obtain knowledge of the accounting principles and practices of the client's industry.
C) inquire whether management has omitted substantially all of the disclosures required by applicable accounting standards.
D) apply analytical procedures to provide limited assurance that no material modifications should be made to the financial statements.
B
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The four core functions of management are planning, organizing, leading, and controlling. Planning is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals. Organizing is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals. Leading is stimulating people to be high performers. It includes motivating and communicating with employees, individually and in groups. Controlling is about monitoring performance and making necessary changes in a timely manner. By controlling, managers make sure the organization's resources are being used as planned and the organization is meeting its goals for quality and safety.
What will be an ideal response?
The ________ doctrine says that if the property a testator leaves is insufficient to satisfy all the beneficiaries named in a will and there are both general and residuary bequests, the residuary bequest is paid last
A) ademption B) inter vivos C) abatement D) adjournment