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NEW QUESTION: 1
What is the purpose of the Notice Date attribute field?
A. The date when the project owner will receive notice to review a contract with a perpetual term
B. The date that is used for a reminder about a deliverable due date
C. The date when one of the parties has to provide notice to the other about any changes to the termination status of ...
D. The date to delete the contract record according to the corporate policy for document retention
Answer: B
Explanation:
https://help.sap.com/viewer/7a107e5958ff44d8b5e671be81ce4551/cloud/en-
US/7be2781771ea1014871c84a8eda24442.html

NEW QUESTION: 2
Before accepting an engagement to audit a new client, an auditor is required to:
A. Discuss the management representation letter with the prospective client's audit committee.
B. Prepare a memorandum setting forth the staffing requirements and documenting the preliminary audit
plan.
C. Make inquiries of the predecessor auditor after obtaining the consent of the prospective client.
D. Obtain an understanding of the entity and its environment, including its internal control.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Choice "A" is correct. Prior to acceptance of a new engagement, an auditor must attempt to communicate
with the predecessor auditor. Inquiry is important because the predecessor auditor may provide
information critical to the acceptance decision. Under the Rules of the Code of Professional Conduct, the
auditor must first request the client's permission.
Choice "B" is incorrect. Although the auditor is required to obtain an understanding of the entity and its
environment, including its internal control, this typically happens after the engagement is accepted, not
before.
Choice "C" is incorrect. A planning memo setting forth staff requirements and documenting the preliminary
audit plan is usually prepared after accepting an engagement.
Choice "D" is incorrect. A management representation letter is usually obtained at the conclusion of the
audit and is dated as of the date of auditor's report.

NEW QUESTION: 3

A. Option A
B. Option D
C. Option B
D. Option C
Answer: A

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