If the Auditor Decides to Draw Attention to Large Related

question 40

Multiple Choice

If the auditor decides to draw attention to large related party transactions occurring in the financial statements of the client, which report will most likely be issued?

• A) Qualified.
• B) Unqualified with an explanatory paragraph
• C) Adverse.
• D) Consolidation.

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Definitions:

Archaeologist

A professional who studies human history and prehistory through the excavation of sites and the analysis of artifacts and other physical remains.

Burial Ground

A piece of land designated for the burial of the dead, often associated with cultural, religious, or social significance.

Artifacts

Objects made by human beings, typically of cultural or historical interest.

Finder's Keepers

A common adage suggesting that a person who finds something abandoned or lost may claim ownership of it.