An Accountant Has Been Asked to Issue a Review Report

Multiple Choice

An accountant has been asked to issue a review report on the balance sheet of a nonissuer without reporting on the related statements of income, retained earnings, and cash flows. The accountant may issue the requested review report only if:

A) The balance sheet is not to be used to obtain credit or distributed to the entity's creditors.
B) The balance sheet is part of a comprehensive personal financial plan developed to assist the entity.
C) There have been no material changes during the year in the entity's accounting principles.
D) The scope of the accountant's inquiry and analytical procedures has not been restricted.