alleryStart learning →Who alone may issue the auditor's opinion on a firm's financial statements?
AA registered bookkeeper
BA certified management accountant
CA chartered financial analyst
DA certified public accountant
Answer & Solution
Correct answer: D. A certified public accountant
1. To become a certified public accountant, an accountant completes an approved bachelor's degree program and passes a test prepared by the American Institute of CPAs.
2. Each state adds its own requirements, such as several years of on-the-job experience and continuing education.
3. Only a CPA can issue the auditor's opinion on a firm's financial statements.
4. The certified management accountant designation belongs to managerial accountants and does not carry that authority.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 14 "Using Financial Information and Accounting", section 14.2 The Accounting Profession_
Keep practising Using Financial Information and Accounting
Browse all Using Financial Information and Accounting questions for US CMA Part 2, or explore more Financial Management topics.
Related questions
A bakery reports total liabilities of $70,150 and owners' equity of $78,750. What is its dCost of goods sold was $112,500, beginning inventory was $18,000 and ending inventory was How is the inventory turnover ratio calculated?What do activity ratios reflect?A bakery earned a net profit of $32,175 and has 10,000 shares of common stock outstanding.Earnings per share tells an investor what?A bakery earned a net profit of $32,175 and reports total owners' equity of $78,750. What Return on equity measures what?