1. An accountant's standard report issued after compiling the financial statements of a nonpublic entity should state that:

The accountant is not aware of any material modifications that should be made to the accompanying financial statements.

A compilation consists principally of inquiries of company personnel and analytical procedures.

A compilation provides no form of assurance on the financial statements.

A compilation is greater in scope than a financial statement preparation form of association, but lesser than an audit.

2.

The minimum likelihood of loss involved in the consideration of a possible significant deficiency is:

Remote.

Reasonably possible.

Probable.

Not considered.

3.

The minimum likelihood of loss involved in the consideration of a possible material weakness is:

Remote.

Reasonably possible.

Probable.

Not considered.

Please answer all 3 for a thumbs up!