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Basic Question 7 of 18
Companies have their financial statements audited by an independent certified public accountant because ______
II. they sell shares of stock to the public.
III. it is a requirement to apply for sizeable loans.
I. financial statements could be falsified by preparers for personal gain.
II. they sell shares of stock to the public.
III. it is a requirement to apply for sizeable loans.
User Contributed Comments 1
| User | Comment |
|---|---|
| Antoinepo | (I) seems to prevail , even more in the new IFRS where financial information quality is very important |
I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
describe the importance of regulatory filings, financial statement notes and supplementary information, management's commentary, and audit reports
describe information sources that analysts use in financial statement analysis besides annual and interim financial reports
CFA® 2024 Level I Curriculum, Volume 2, Module 1.