ZuoTi.Pro
Question

The statement that "the financial statements were prepared in accordance with generally accepted accounting principles" is...

The statement that "the financial statements were prepared in accordance with generally accepted accounting principles" is found in the

a. Management letter

b. Management discussion and analysis

c. Footnotes to the balance sheet

d. Auditor's report

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer d. Auditor's report

As

auditor in his report also state the fact that how financial statements are prepared and presented so in their report in section management discussion and analysis they give their assertion about the fact that whether the financial statements were prepared in accordance with generally accepted accounting principles or not.

0 0
Add a comment
Know the answer?
Add Answer to:
The statement that "the financial statements were prepared in accordance with generally accepted accounting principles" is...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 16) A managerial report, compared to financial statements prepared in conformity with generally accepted accounting principles,...

    16) A managerial report, compared to financial statements prepared in conformity with generally accepted accounting principles, is most likely to Ofocus on the operational results of the most recently completed accounting period Oprovide information for issuance of common stock Obe used by investors for investment purposes Oprovide information for external reporting purposes

  • Q1, Which financial statement is not prepared primarily with the accrual basis of accounting in mind?...

    Q1, Which financial statement is not prepared primarily with the accrual basis of accounting in mind? a, All the financial statements required under generally accepted accounting principles are prepared primarily with the accrual basis of accounting in mind. b, Statement of financial position   c, Statement of cash flows       d, Statement of comprehensive income Q2, According to the FASB conceptual framework, which of the following situations violates the fundamental characteristic of relevance? a, Financial statements are issued 50 days after the...

  • 3. The common set of standards and procedures by which audited financial statements are prepared is...

    3. The common set of standards and procedures by which audited financial statements are prepared is known as the: A. B. C. matching principle. cash flow identity. Generally Accepted Accounting Principles. Financial Accounting Reporting Principles. Standard Accounting Value Guidelines. D. 4. Which one of the following is the financial statement that summarizes a firm's revenue and expenses over a period of time? income statement balance sheet statement of cash flows tax reconciliation statement market value report

  • Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles: A....

    Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles: A. Step Eight: Prepare the financial statements. Note that you must use your adjusted trial balance to prepare the income statement, statement of owner’s equity, and balance sheet. You must complete these statements in this order, as there are interdependencies among them. [ACC-201- 03] B. Step Nine: Complete the “Closing Entries” tab in your workbook by closing all temporary income statement amounts to create closing...

  • Principles of auditing Ch3 QUESTION 3 When financial statements are presented that are not in conformity...

    Principles of auditing Ch3 QUESTION 3 When financial statements are presented that are not in conformity with generally accepted accounting principles, an audit may issue a(n)Qualified Adverse opinion Opinion A. Yes No B. No No C. Yes Yes D. No Yes QUESTION 4 The most appropriate title for the auditor's report is A. Independent Attestor's Report B. Independent Accountant's Report C. Independent Auditor's Report D. Auditor's Report QUESTION 5

  • Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles: A....

    Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles: A. Step Eight: Prepare the financial statements. Note that you must use your adjusted trial balance to prepare the income statement, statement of owner’s equity, and balance sheet. You must complete these statements in this order, as there are interdependencies among them. Adjusting entries Debit Credit Peyton Approved Trial Balance 2018 Unadjusted trial balance Debit Credit 32,236.75 18,500.00 175.65 1,500.00 2,400.00 6,000.00 17,400.00 400.00 250.00...

  • Generally Accepted Accounting Principles (GAAP) govern how... Measure and communicate financial information. Establish principles only for...

    Generally Accepted Accounting Principles (GAAP) govern how... Measure and communicate financial information. Establish principles only for proprietorships. Prepare only the income statement sections Develop financial statements only for corporations Present financial statement for partnerships only accountants:

  • 1A qualified opinion that is issued because of a departure from generally accepted accounting principles should...

    1A qualified opinion that is issued because of a departure from generally accepted accounting principles should contain a separate paragraph explaining the departure and its effects. True False 2 The introductory paragraph of the auditors’ report clarifies management’s responsibility for the financial statements. True False 3The phrase “generally accepted auditing standards” appears in the scope paragraph of the auditors’ standard report. True False 4An auditors’ report is in essence a guarantee by the auditors that the financial statements are correct....

  • Financial Statement Analysis 1.1. What types of questions can be answered by analyzing financial statements? 1.2....

    Financial Statement Analysis 1.1. What types of questions can be answered by analyzing financial statements? 1.2. What is the eventual goal of the IASB? 1.3. What are the particular items an analyst should review and study in an annual report, and what material should be read with caution? 1.4. What can a financial analyst find in the MD&A section of the annual report? 1.5. What are the purposes of (a) the income statement, (b) the balance sheet, (c) the statement...

  • Financial Statement Analysis 1.5. What are the purposes of (a) the income statement, (b) the balance...

    Financial Statement Analysis 1.5. What are the purposes of (a) the income statement, (b) the balance sheet, (c) the statement of cash flows, and (d) the statement of stockholders' equity? 1.6. Explain the importance of the notes to the financial statements. 1.7. What causes an auditor's report to be qualified? adverse? a disclaimer of opin- ion? unqualified with explanatory language? 1.8. Why is the management discussion and analysis useful to the financial analyst? 1.9. What is a proxy statement, and...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT