Ray,an Independent Auditor,was Engaged to Perform an Audit of the Financial

question 45

Multiple Choice

Ray,an independent auditor,was engaged to perform an audit of the financial statements of Zena Incorporated one month after its fiscal year had ended.Although the inventory count was not observed by Ray,the auditors were able to obtain sufficient appropriate audit evidence by applying alternative auditing procedures.Rays audit report will probably contain:

• A)A standard unmodified opinion.
• B)An unmodified opinion and an emphasis-of-matter paragraph.
• C)Either a qualified opinion or a disclaimer of opinion.
• D)An "except for" qualification.

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Definitions:

Lichens

Symbiotic partnerships between a fungus and an alga or a cyanobacterium, capable of surviving in harsh environmental conditions and playing a role in ecosystem nutrient cycles.

Clownfish

Brightly colored fish known for their symbiotic relationship with sea anemones, inhabiting the warm waters of the Pacific and Indian Oceans.

Catastrophic

Involving or causing sudden great damage or suffering, typically on a large scale or involving a natural disaster.

Drought

Drought is a prolonged period of abnormally low rainfall, leading to a shortage of water that adversely affects crops, animals, and human populations.