
Concept Introduction
Financial Statements: The financial statements are reports of the financial condition of a company or entity. In the financial statements, the management presents the financial performance and the position of the company at a point in time. The financial statements disclose the financial effects of business transactions. The financial statements include a
Income Statement: The income statement is a financial statement that shows the net income or loss for a particular period. It is a summary of expenses and income of a particular period.
a.
To Identify: The auditor of Apple as per the SEC EDGAR database.
To Identify: The responsibility of the independent auditor as claimed regarding Apple’s financial statements.

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Chapter 1 Solutions
Loose Leaf for Fundamental Accounting Principles
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