On Which of the Following Matters Would It Not Be

question 150

Multiple Choice

On which of the following matters would it not be appropriate for the auditors to report using an other-matter paragraph?

• A)An indication that a predecessor auditor examined prior year's financial statements presented in comparative form.
• B)Procedures performed related to supplementary mineral reserve information required by the Financial Accounting Standards Board.
• C)The consistency of summary financial statements with the audited financial statements from which they were derived.
• D)An updated opinion on comparative financial statements that differs from the opinion originally issued by the auditors.

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Definitions:

Expired Insurance

The portion of an insurance premium that has been allocated to the expired portion of the policy, representing coverage that has already been provided.

Rent Expense

An expense account that records the cost incurred by a business to rent facilities or equipment for operation purposes.

Utilities Expense

The cost incurred by businesses or individuals for using utilities such as electricity, water, and gas.

Capital Balances

The amounts recorded in the equity section of a company's balance sheet, representing the capital invested by the owners.