CFA Practice Question

There are 86 practice questions for this study session.

CFA Practice Question

Interim financial statements ______

I. include less detail than the annual report.
II. are in condensed form.
III. are not subjected to a full audit.
Correct Answer: I, II and III

Interim financial statements include less detail than the annual report. They are also in condensed form and are not subjected to a full audit.

User Contributed Comments 9

User Comment
Dinosaur what is meant by condensed form?
rethan Interim financial statements are not FULLY audited. i.e. there is some auditing, but not full.
rethan Dinosaur:
Condensed- Abbreviated/is lesser in detail
pappoo yes less details
johntan1979 In finance, condensed means summary.

In food, condensed means concentrated.
ldfrench You are so wise^
rabihCH i love these comments. make studying less painful! :)
ibrahim18 @rabihCH. I agree. I always look forward to the comments
SeanReam There is no such thing as "some auditing", if its audited it has an auditors report. It gets reviewed which means the accounting is checked but the substance of it isn't tested.
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