: Question 8 (3 points) The Balance Sheet is a good indicator of your practice’s worth True False Question 9 (3 points) A financial review that requires the CPA to perform an assessment of your practice’s internal controls and the related risk is: Audit Review Compilation The Accountant’s Final Report
Question 10 (3 points) The type of accounting that conforms to GAAP and recognizes income when it is earned rather than when the practice receives payment is: Tax Basis of Accounting Cash Basis of Accounting Accrual Basis of Accounting Management Basis of Accounting Question 11 (3 points) The most accurate picture of your practice’s financial situation is best determined by using the Cash Basis of Accounting method. True False
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