EXAMINATION Definition

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EXAMINATION, in an audit, is evaluating the preparation of  prospective statements, support underlying assumptions, and presentation. The accountant reports whether, in his
or her opinion, the statements conform to AICPA guidelines and assumptions provide a reasonable basis for the responsible party's forecast. The accountant should be independent, proficient, plan the engagement, supervise assistants, and obtain sufficient evidence to provide a reasonable basis for the report.

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CHECK DIGIT is a redundant digit added to a code to check accuracy of other characters in the code.

NON-OPERATING ASSETS is assets not necessary to ongoing operations of the business enterprise.

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