Which of the following best describes an auditor's report on a supplementary financial report prepared in accordance with a price-level basis of accounting that has substantial support?
A)An unaudited report on a supplementary report.
B)An assurance report on a supplementary report.
C)A special purpose report on a supplementary report.
D)A limited assurance report on a supplementary report.

Question

Quizplus · Accepted Answer

A special purpose report on a supplementary report is appropriate for financial information prepared in accordance with a basis of accounting other than generally accepted accounting principles (GAAP), such as a price-level basis of accounting with substantial support. This type of report acknowledges the use of a special purpose framework.

Which of the Following Best Describes an Auditor's Report on a Supplementary