Choice "B" is correct. In a compilation engagement, the accountant should read the financial statements for obvious material misstatements.
Choice "a" is incorrect. Compiled financial statements may be used to obtain credit. (The prohibition on using compiled financial statements to obtain credit relates to personal financial statements when the accountant would like to be exempted from the requirements of SSARS.)
Choice "c" is incorrect. As part of a review engagement, an accountant would ask about actions taken at board of directors' meetings that affect the financial statements. Inquiry is not part of a compilation engagement.
Choice "d" is incorrect. Analytical procedures are part of a review engagement, but not necessary for a compilation engagement.