Which of the Following Statements Is Correct

Multiple Choice

Which of the following statements is correct?

A) A letter of representation is documentation of management's acceptance of responsibility for the financial statements and is deemed to be reliable evidence.
B) A letter of representation is not deemed to be reliable evidence because of the potential incompetence of management.
C) A letter of representation is not deemed to be reliable evidence because it is a written statement from a nonindependent source.
D) A letter of representation is documentation of the CPA's acceptance of responsibility for the audit of the financial statement and is deemed to be reliable.