part-a

1) The public accountant (PA) should ensure that information they are associated with

• a) Is misleading.

• b) Is always in compliance with GAAP.

• c) Is sent only to parties the PA knows about.

• d) Is accurate, accurately reproduced and not misleading.

2) A public accountant (PA) is not allowed by management to verify an immaterial amount of accounts receivable on the financial statements. The PA will issue a(n)

• a) Unmodified (unqualified) opinion.

• b) Adverse opinion.

• c) Modified (qualified) opinion.

• d) Disclaimer of opinion

3) The purpose of the introductory paragraph is to

• a)Identify which financial statements were examined.

• b) Refer to the auditor's work on the financial statements.

• c) Express an opinion on the financial statements.

• d) Give notice of management's responsibility to prepare the financial statements.

4) A public accountant (PA) is not associated with the financial statements if they are produced by their computer as part of a bookkeeping service.

True or false

5) The PA should ensure that the information they are associated with is accurate, accurately reproduced, and not misleading. If the client attempts to make inappropriate use of the PAs name, the PA should

• a) place advertisements on social media and in the newspapers clearly explaining the errors, corrections to the errors, and that further information from the client should not be trusted unless it comes directly from the PA.

• b) contact the police.

• c) amend the information or get legal advice.

• d) immediately fire the client.