The Auditor's Conclusions Are Stated as Opinion Rather Than a Statement

question 4

Multiple Choice

The auditor's conclusions are stated as opinion rather than a statement of fact:

• A) to avoid the possibility of legal action against the auditor.
• B) to allow for a margin of error.
• C) because conclusions are based on professional judgement.
• D) all of the above

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Definitions:

Industrialized Countries

Nations with significant industrial development, high levels of income per capita, sophisticated infrastructure, and advanced technological capabilities.

Hours Worked

The total time period that an employee spends performing tasks or activities related to their job during a specified period.

Per Capita GDPs

Measures the average economic output per person, calculated by dividing the Gross Domestic Product (GDP) of a region by its population; essentially the same as Per Capita Real GDP but may not be adjusted for inflation.

NICs

Newly Industrialized Countries, nations that are transitioning from primarily agricultural to more industrial and manufacturing-based economies.