[jeff]

– The NINJAs are giving away a NINJA MCQ section of the winner’s choice.

– To enter the drawing, simply post an answer – (you don’t have to get it correct to be picked).

– The winner will be randomly selected

– You can gift your winning section to someone else (i.e. people who already passed can participate)

– Deadline: Today – 4pm Eastern

Today’s NINJA MCQ Question:

AU-C 800, Special Considerations—Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks, requires an auditor to determine the acceptability of the financial reporting framework applied to the special-purpose financial statements for all of the following, except:

A the intended users.

B a basis of accounting that uses a definite set of logical criteria.

C the purpose for which the financial statements are prepared.

D management’s steps in determining the applicable financial framework is acceptable.

[wombataholic]

B

Licensed CPA
Passed each section on the first try with Ninja Notes/MCQ/Audio

[natnathill41]

B

[wmcpa]

B

FAR: 83
REG: 69, 69, retake Q1 2015
AUD: Q2 2015
BEC: Q2 2015

[markeckerle]

B

FAR - 66, 76
AUD - 71, 63, 84
REG - 68 , JAN 15
BEC - FEB 15

[cathypierce]

B

[Gillitl11]

D

[jackaroe]

B

[jeff]

Update:

Answer: B

AU-C 800.10 explains that the auditor is required to determine the acceptability of the financial reporting framework applied to the special-purpose financial statements by obtaining an understanding of:

-the purpose of the financial statements,

-the intended users, and

-management's steps taken in determining the applicable financial reporting framework.

***

Winner: CPAMule!

Please email jeff@another71.com and let me know what section of NINJA MCQ you'd like.

Thank you everyone we'll do this again this week.

[Author]

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