An Auditor Most Likely Would Express an Unqualified Opinion and Would

question 351

Multiple Choice

An auditor most likely would express an unqualified opinion and would not add explanatory language to the report if the auditor:

• A) Wishes to emphasize that the entity had significant transactions with related parties.
• B) Concurs with the entity's change in its method of computing depreciation.
• C) Discovers that supplementary information required by FASB has been omitted.
• D) Believes that there is a probable likelihood of a material loss resulting from an uncertainty that is sufficiently supported and disclosed.

---

Definitions:

Unenforceable Contracts

Contracts that cannot be executed or enforced by law due to lack of essential legal requirements.

Criminal Conspiracies

Agreements between two or more parties to commit an illegal act or a legal act in an illegal manner.

Duopolists

Refers to two companies or entities that dominate or control an entire market for a particular product or service, shaping prices, supply, and competition.

Monopolist

A monopolist is an entity or firm that has exclusive control over a market for a particular good or service, enabling it to adjust prices without direct competition.