A Client Has Changed the Salvage Values of a Number

question 32

Multiple Choice

A client has changed the salvage values of a number of its fixed assets.The auditors of the public company believe that the revised salvage values are realistic.The appropriate report on the financial statements is:

• A)Standard unqualified.
• B)Unqualified with explanatory language as to consistency.
• C)Qualified for consistency.
• D)Disclaimer.

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Definitions:

World Trade

Refers to the exchange of goods and services across international borders or territories.

Uneven Distribution

A situation where resources, wealth, or opportunities are not evenly shared among members of a society or geographic areas, often leading to disparities.

Economists

Professionals who study, develop, and apply theories and concepts from economics to understand how individuals, businesses, and societies allocate resources.

Offshoring

The relocation of a company's business process, such as manufacturing or services, from one country to another, often to exploit lower labor costs.