If, After the Accumulation of Final Evidence and During the Evaluation

question 66

Multiple Choice

If, after the accumulation of final evidence and during the evaluation of results, the auditor concludes that there is sufficient evidence but it does not support a conclusion of fairly presented financial statements, the auditor has two choices:

• A) (1) the statements must be revised to the auditor's satisfaction or (2) a disclaimer of opinion must be issued.
• B) (1) either a qualified opinion must be issued or (2) an adverse opinion must be issued.
• C) (1) either a disclaimer of opinion must be issued or (2) an adverse opinion must be issued.
• D) (1) the statements must be revised to the auditor's satisfaction or (2) either a qualified or an adverse opinion must be issued.

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Definitions:

Refineries

are industrial plants where raw materials, such as crude oil or sugar cane, are processed and converted into finished products like gasoline or refined sugar.

Clean Air Act

An extensive federal statute in the U.S. that controls emissions from both stationary and mobile sources in order to safeguard public health and the environment.

Sulfur Dioxide

A toxic gas produced by volcanoes and in various industrial processes, known for causing respiratory problems and environmental damage.

Bubble Concept

A theoretical idea indicating an economic cycle characterized by rapid expansion followed by a contraction.