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Life is full of uncertainty.
NEW QUESTION: 1
While auditing the financial statements of a nonissuer, a CPA was requested to change the engagement to
a review in accordance with Statements on Standards for Accounting and Review Services (SSARS)
because of a scope limitation. If the CPA believes the client's request is reasonable, the CPA's review
report should:
I. Refer to the scope limitation that caused the change.
II. Describe the auditing procedures that have already been applied.
A. Both I and II.
B. II only.
C. Neither I nor II.
D. I only.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Choice "D" is correct. If the CPA believes the client's request is reasonable, he/she must comply with the
standards for a review and issue an appropriate report. The report should not refer to the original
engagement, to any auditing procedures performed, or to the scope limitation.
Choices "A", "B", and "C" are incorrect, based on the above Explanation. Reporting on Comparative
Financial Statements
NEW QUESTION: 2
Bubba holds 200 shares of common stock in a utility company and receives rights to subscribe to an
additional 100 shares at $20. The utility company is raising $40 million of new capital. How many rights
does Bubba receive?
A. 0
B. 1
C. 2
D. 3
Answer: D
Explanation:
200. In an issue of rights, there is always one right per share. Bubba owns 200 shares and
thus receives the same number of rights.
NEW QUESTION: 3
An architect is helping an organization with the Conceptual Design of an NSX-T Data Center solution.
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A. The Development Team are heavy on API usage.
B. All traffic should recover in the event of Host/Rack/ToR failure.
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D. Business critical applications should have an SLA of 99.99%.
E. SAN storage has enough capacity to build the new infrastructure.
F. Hardware is 5 years old and new hardware is already purchased.
Answer: A,C,F
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