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Which of the following should be the first step in reviewing the financial statements of a nonpublic entity? A. Comparing the financial statements with statements for comparable prior periods and with anticipated results. B. Completing a series of inquiries concerning the entity’s procedures for recording, classifying, and summarizing transactions. C. Obtaining a general understanding of the entity’s organization, its operating characteristics, and its products or services. D. Applying analytical procedures designed to identify relationships and individual items that appear to be unusual. |