Question: A potential client has requested that an accountant prepare financial statements. The accountant has nounderstanding of the client s industry. The accountant should Accept the

A potential client has requested that an accountant prepare financial statements. The accountant has nounderstanding of the clients industry. The accountant should
Accept the engagement and use an understanding of other industries to complete the engagement.
Accept the engagement only after (s)he has obtained an understanding in the industry.
Not accept the engagement because of the lack of understanding of the industry.
Accept the engagement with the expectation of obtaining an understanding in the industry.

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