The Auditors Conclude That There Is a Material Inconsistency in the "Other

question 85

Multiple Choice

The auditors conclude that there is a material inconsistency in the "other information" in an annual report to shareholders containing audited financial statements. If the auditors conclude that the financial statements do not require revision, but the entity refuses to revise or eliminate the material inconsistency, the auditors may

• A)issue a qualified opinion on the entity's financial statements, citing a departure from generally accepted accounting principles.
• B)consider the matter closed since the other information is not included in the audited financial statements.
• C)issue an adverse opinion on the entity's financial statements due to inadequate disclosure.
• D)revise the report on the entity's financial statements to include an additional section describing the material inconsistency.

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Definitions:

Role Playing

A good technique for practicing the sales presentation prior to meeting with a customer; the salesperson acts out a simulated buying situation while a colleague or manager acts as the buyer.

Qualifying Potential

The process of assessing leads to determine their likelihood to become paying customers based on specific criteria.

B2B Salespeople

Individuals who specialize in selling products or services from one business to another rather than to individual consumers.

Role Playing

A training or educational activity in which people assume roles and act out scenarios to learn about specific situations or to practice skills.