Which of the following procedures would an accountant not be likely to perform during an engagement to review the financial statements of a nonissuer (nonpublic entity)?

l. testing the days-to-failure assumption in the warranty reserve account
il. obtaining an understanding of the accounting practices in the client's industry
iii. obtaining an understanding of the client's internal control structure

a. none of the above
b. il and ili only
c. i and ill only
d. i only

c. I and Ill only.

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.