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| As a condition of obtaining a loan from First National Bank, Maxim Co. is required to submit an audited balance sheet but not the related statements of income, retained earnings, or cash flows. Maxim would like to engage a CPA to audit only its balance sheet. Under these circumstances, the CPA A. May not audit only Maxim's balance sheet if the amount of the loan is material to the financial statements taken as a whole. B. May not audit only Maxim's balance sheet if Maxim is a nonissuer. C. May audit only Maxim's balance sheet if the CPA disclaims an opinion on the other financial statements. D. May audit only Maxim's balance sheet if access to the information underlying the basic financial statements is not limited. |