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| When a CPA reports on audited financial statements prepared on the cash receipts and disbursements basis of accounting, the report should A. Refer to the note in the financial statements that describes management’s responsibility for the financial statements. B. Include a separate emphasis-of-matter paragraph that discusses the justification for, and the CPA’s concurrence with, the departure from GAAP. C. Explain why this basis of accounting is more useful for the readers of this entity’s financial statements than GAAP. D. State that the basis of presentation is a basis of accounting other than GAAP. |