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NEW QUESTION: 1
An auditor may report on condensed financial statements that are derived from complete financial
statements if the:
A. Condensed financial statements are presented in comparative form with the prior year's condensed
financial statements.
B. Auditor describes the additional procedures performed on the condensed financial statements.
C. Condensed financial statements are distributed to stockholders along with the complete financial
statements.
D. Auditor indicates whether the information in the condensed financial statements is fairly stated in all
material respects in relation to the complete financial statements from which it has been derived.
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Choice "C" is correct. An auditor may report on condensed financial statements that are derived from
financial statements that he or she has audited, indicating (1) that he or she has audited and expressed an
opinion on the complete financial statements, (2) the date of the auditor's report, (3) the type of opinion
expressed, and (4) that the information contained in the condensed financial statements is fairly stated in
all material respects in relation to the complete financial statements from which it has been derived.
Choice "A" is incorrect. The condensed financial statements do not have to be distributed to the
stockholders.
Choice "B" is incorrect. The audit report on condensed financial statements does not require that additional
procedures be described.
Choice "D" is incorrect. Condensed financial statements do not need to be presented in comparative form
with the prior year's financial statements.
NEW QUESTION: 2
According to the FASB conceptual framework, which of the following situations violates the concept of reliability?
A. Management reports to stockholders regularly refer to new projects undertaken, but that financial statements never report project results.
B. Financial statements are issued 9 months late.
C. None of these answers.
D. Data on segments having the same expected risks and growth rates are reported to analysts estimating future profits.
E. Financial statements include property with a carrying amount increased to management's estimate of market value.
Answer: E
Explanation:
Explanation/Reference:
Explanation:
Reliability has 3 primary qualities: verifiability, neutrality and representational faithfulness. Neutrality is violated here as information should not be prepared or reported to obtain a predetermined result, and should be free from bias.
NEW QUESTION: 3
* 10.0.0.100
* 131.107.0.100
Answer:
Explanation:
NEW QUESTION: 4
The IT department has completed the installation and configuration of the wireless network in their campus.
They have a lot of access points and controllers to support the huge volume of WiFi devices. They have enabled load balancing, but they cannot see this function work.
Which root of the problem is true?
A. Access points must be on the same controller to load balance wireless clients.
B. Band steering is disabled, so load balancing cannot work properly.
C. Load balancing is a client decision, and some of the client devices may not support this feature.
D. Controllers must have the same virtual interface IP address to load balance wireless clients.
Answer: A
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