Management's Discussion and Analysis
A)is a report of the independent accountants.
B)can be a substituted for the notes to the financial statements.
C)provides a discussion and explanation of various items reported in the financial statements.
D)provides assurances that the auditors are responsible for the financial statements.

Question

Quizplus · Accepted Answer

Management's Discussion and Analysis provides a discussion and explanation of various items reported in the financial statements. It is not a report of the independent accountants (A) nor a substitute for the notes to the financial statements (B). It also does not provide assurances that the auditors are responsible for the financial statements (D).