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NEW QUESTION: 1
Which of the following describe data and transactions in the SAP system? (Choose all that apply)
A. Applicable organizational elements must be assigned for each transaction
B. A document is created for each transaction carried out in the system
C. Master data ensure the redundancy of data in the system
D. Transaction codes determine the relevant master data
Answer: A,B
NEW QUESTION: 2
Moore, CPA, has been asked to issue a review report on the balance sheet of Dover Co., a nonissuer.
Moore will not be reporting on Dover's statements of income, retained earnings, and cash flows. Moore
may issue the review report provided the:
A. Specialized accounting principles and practices of Dover's industry are disclosed.
B. Scope of the inquiry and analytical procedures has not been restricted.
C. Balance sheet is presented in a prescribed form of an industry trade association.
D. Balance sheet is not to be used to obtain credit or distributed to creditors.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Choice "B" is correct. An accountant may issue a review report on one financial statement, such as a
balance sheet, and not on other related financial statements, if the scope of the accountant's inquiry and
analytical procedures has not been restricted.
Choice "A" is incorrect. The balance sheet need not be presented in a prescribed form of an industry trade
association.
Choice "C" is incorrect. There is no limitation on the use of a reviewed financial statement.
Choice "D" is incorrect. Specialized accounting principles should be considered by the accountant when
performing the review, but need not be disclosed.
NEW QUESTION: 3
Answer:
Explanation:
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