For each one of the following statements, indicate whether the statement is true of false.

a. A CPA firm should adopt adequate policies and procedures on client acceptance, but the only one that is specifically required is communication with a predecessor auditor. 

b. Since the assets and liabilities of most commercial entities are similar in nature, an auditor does not need to be concerned about obtaining a knowledge and understanding of the business except for specialized industries. 

c. The procedures used in preparing the preliminary audit plan are virtually all done at the CPA firm before visiting the client's premises. 

d Determining a single dollar amount that is material to the financial statements taken as a whole during preliminary planning is a requirement of professional standards.

e. Materiality, as used in planning, is a quantitative consideration, but, as used in evaluation, has both quantitative and qualitative aspects.

f. Audit risk at the financial statement level must be quantified during preliminary planning.

g. The auditor has a responsibility to search for fraud that could be material to the financial statements, and failure to detect a material fraud is clear evidence that the auditor has not satisfied this professional responsibility.

h. The auditor's procedures in preliminary planning include identification of both related parties and material transactions regardless of the relationship with the other party.

i. Violations of the Internal Revenue Code should be addressed by the auditor as "errors and irregularities" under SAS No. 53 and not as an "illegal act" under SAS No. 54.

j. The auditor's responsibility is to search for evidential matter to support a company's continued existence.

k. The audit report should be dated as of the date the report is issued.

I. Analytical procedures are helpful to the auditor in planning other audit procedures, but are not required by professional standards.

m. An example of an analytical procedure is comparison of a vendor's invoice with the recorded amount of equipment.

n. An analytical procedure would never use non-financial data.