Which statement is incorrect? a. Notes to financial statements provide narrative description or disaggregation of items disclosed in F/S and information about items that do not qualify for recognition. b. Notes to financial statements are an integral part of financial statements. c. Notes to financial statements amplify the items presented in the financial statements. d. Notes to financial statements is the best demonstration of the standard of adequate disclosure. e. none of the abov

Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter17: Other Services Provided By Audit Firms
Section: Chapter Questions
Problem 20MCQ
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Which statement is incorrect?

a. Notes to financial statements provide narrative description or disaggregation of items disclosed in F/S and information about items that do not qualify for recognition.

b. Notes to financial statements are an integral part of financial statements.

c. Notes to financial statements amplify the items presented in the financial statements.

d. Notes to financial statements is the best demonstration of the standard of adequate disclosure.

e. none of the above

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