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Author Question: A(n) ______________ is money paid directly to the owner. a. expense b. capital investment c. ... (Read 250 times)

mmm

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on: Jul 6, 2018
A(n) ______________ is money paid directly to the owner.
 a. expense
  b. capital investment
  c. withdrawal
  d. none of the answers listed

Question 2

Which of the following is true of reviewed financial statements?
 
  A) These represent the most basic level of financial statements.
  B) These have a broader scope as compared to audited financial statements.
  C) These provide assurance to the user of the financial statements.
  D) These have a limited implication of assurance.


Joc

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Reply #1 on: Jul 6, 2018
Answer to Question 1

C

Answer to Question 2

D
Explanation: D) Reviewed financial statements have a limited implication of assurance. In other words, based on the accountant's review, he or she is unaware of any material modifications that should be made to the financial statements to be in conformity with GAAP.


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