A limitation on the scope of an audit sufficient to preclude an unmodified opinion will usually result when management
A. Presents financial statements that are prepared in accordance with the cash receipts and disbursements basis of accounting.
B. States that the financial statements are not intended to be presented in accordance with generally accepted accounting principles.
C. Does not make the minutes of the board of directors' meetings available to the auditor.
D. Asks the auditor to report on the balance sheet and not on the other basic financial statements.
Ans: B. States that the financial statements are not intended to be presented in accordance with generally accepted accounting principles.
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Which of the following statements regarding buy-sell agreements is NOT correct?
A) The buyer of the business is the beneficiary. B) Buy-sell agreements may be funded with life insurance. C) The death benefit is the purchase price of the business interest. D) Buy-sell agreements are only funded with annuities."
Generally speaking, customer profiling focuses on figuring out the customers’
a. Ideal point composition b. Demographic composition c. Socioeconomic composition d. Both A and B e. Both A and C f. Both B and C