Which of the Following Is the Most Likely Reason for an Auditor

question 61

Multiple Choice

Which of the following is the most likely reason for an auditor to issue a modified opinion with a qualification?

• A) Inability to gather any sufficient relevant information to form the basis for the opinion
• B) Misstatements that are material and pervasive
• C) Going concern issue
• D) Misstatements that are material but not pervasive

---

Definitions:

Monthly Benefit

A regular payment received each month, such as from a pension or Social Security, designed to cover living expenses.

COLA

Cost-of-Living Adjustment; an increase in income or benefits designed to offset inflation and maintain purchasing power.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate inflation.

APR

Annual Percentage Rate, a measure that reflects the cost of borrowing on loans or credit cards or the yield from an investment, including interest and other fees.