Theodore Heinrich prepared a set of financial statements based on information provided to him. He checked mathematical accuracy of the data, and the client complimented him on
The reasonable cost of the work he performed. Theodore performed
A) a compilation.
B) a review.
C) an audit.
D) none of the above

Question

Quizplus · Accepted Answer

Theodore performed a compilation, which involves taking information provided by the client and presenting it in financial statement form. A compilation does not provide any assurance on the financial statements and is the least extensive form of financial statement service that a CPA can provide.

Theodore Heinrich Prepared a Set of Financial Statements Based on Information