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The primary responsibility for the preparation of the financial statements is reposed in

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Answer:

For instance, the auditor may provide guidance on how a new accounting standard will affect financial statement presentation or other information disclosure. Ultimately, however, the preparation of financial statements is management's responsibility.

Answer:

The correct option is 3 - Management

Financial statements are prepared to know and evaluate the financial position of a business at a certain time. Learn about the adjusted trial balance, income statement, statement of retained earnings, and balance sheet, and explore the elements and steps in creating these financial statements.

Explanation:

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