In Which of the Following Circumstances Would an Auditor Not

question 100

Multiple Choice

In which of the following circumstances would an auditor not express an unqualified opinion?

• A) There has been a material change between periods in accounting principles.
• B) Quarterly financial data required by the SEC has been omitted.
• C) The auditor wishes to emphasize an unusually important subsequent event.
• D) The auditor is unable to obtain audited financial statements of a consolidated investee.

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Definitions:

Appreciated

In financial terms, it means an increase in the value of an asset or currency.

Depreciated

A decrease in the value of an asset over time due to wear and tear, age, or obsolescence.

International Value

The worth of a product or service recognized across different countries and cultures, often influencing its global marketability and pricing.

Real Interest Rates

The interest rate adjusted for inflation, representing the true cost of borrowing and the real yield to investors.