Restrictions Imposed by a Retail Entity That Is a New

question 286

Multiple Choice

Restrictions imposed by a retail entity that is a new client prevent an auditor from observing any physical inventories. These inventories account for 40% of the entity's assets. Alternative auditing procedures cannot be applied due to the nature of the entity's records. Under these circumstances, the auditor should express a(an) :

• A) Disclaimer of opinion.
• B) Qualified opinion.
• C) Adverse opinion.
• D) Unqualified opinion with an explanatory paragraph.

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Definitions:

Pietro Da Cortona

An Italian Baroque painter and architect, known for his frescoes and ceilings, which combine dramatic movement and rich coloring.

La Pittura

An Italian term meaning "the painting," often associated with discussions on the art and technique of painting.

Artemisia Gentileschi

An Italian Baroque painter known for her powerful depictions of biblical and mythological female figures, and for being one of the first recognized female artists.

Self-Portrait

An artistic representation of the artist by themselves, often a painting, drawing, photograph, or other forms of media.