Chapter 4 Quiz

Chapter 4 Quiz - Q uiz(See related pages Results Reporter...

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Quiz (See related pages) Results Reporter Out of 10 questions, you answered 10 correctly with a final grade of 100% 10 correct (100%) 0 incorrect (0%) 0 unanswered (0%) Your Results: The correct answer for each question is indicated by a . 1 CORRECT Which of the following is not done during the client selection and retention phase of planning? A) Obtain an understanding of internal controls. B) Obtain and review financial information. C) Consider the need for special skills. D) Ensure that the firm has sufficient resources to complete the engagement in a timely manner. Feedback: Correct. Obtaining an understanding of client internal controls is done after the engagement is accepted or retention is determined. 2 CORRECT Which of the following is not included in the engagement letter? A) Objectives of the engagement. B) Representations that the financial statements were prepared in accordance with generally accepted accounting principles. C) Management's responsibilities. D) A clear explanation of the services to be performed on the engagement. Feedback: Correct. This cannot be determined until after the end of
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Chapter 4 Quiz - Q uiz(See related pages Results Reporter...

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