When Financial Statements Contain a Departure from GAAP, the Auditors

question 20

Multiple Choice

When financial statements contain a departure from GAAP, the auditors should explain the unusual circumstances in a separate paragraph and express an opinion that is

• A)unqualified.
• B)qualified.
• C)adverse.
• D)qualified or adverse, depending on the overall materiality and pervasiveness of the GAAP departure.

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Definitions:

Interest Category

Groups or classes that share common interests or characteristics, often used in marketing to target products or services.