If Audited Financial Statements Include a Balance Sheet and an Income

question 24

Multiple Choice

If audited financial statements include a balance sheet and an income statement,but do not include a statement of cash flows:

• A)The auditors may still issue an unmodified opinion.
• B)The auditors should issue a qualified report for the departure from generally accepted accounting principles.
• C)The auditors should issue a qualified report indicating a scope limitation in that no statement of cash flows is presented.
• D)The auditors should disclaim an opinion on the overall financial statements.

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Definitions:

Control Group

In an experiment, the group that does not receive the treatment under study and is used as a benchmark to measure how the other tested subjects do.

Emotional Flatness

A condition or state where a person shows minimal emotional expression or feelings.

Antipsychotic Drugs

Drugs used primarily in the treatment of schizophrenia and other psychotic disorders; they are often used off-label and inappropriately for other disorders such as dementia and impulsive aggressiveness.

Hallucinations

Perceptions in a conscious and awake state in the absence of external stimuli, which have qualities of real perception.