3. What is the difference between a review and an audit of financial statements?

MULTIPLE CHOICE

		a. A review provides no assurance and an audit provides reasonable assurance.
		b. A review provides limited assurance and an audit provides reasonable assurance.
		c. A review provides limited assurance and an audit provides absolute assurance.
		d. A review provides reasonable assurance and an audit provides absolute assurance.

4. Which of the following is not a procedures required when a CPA performs a compilation?

MULTIPLE CHOICE

		a. Read the compiled statements.
		b. Must have a general understanding of the client's business transactions and accounting records.
		c. Must have knowledge of the accounting principles and practices used within the client's industry.
		d. Must have an understanding of the client's system of internal control.

5. In an attestation engagement, a practioner may report:

MULTIPLE CHOICE

		a. Directly on the subject matter.
		b. On an assertion about the subject matter.
		c. Both A. and B.
		d. Neither A. or B.