The Appropriate Audit Report Date for a Standard Unmodified Opinion

question 24

Multiple Choice

The appropriate audit report date for a standard unmodified opinion audit report for a nonpublic entity should be

• A) the date the financial statements are given to the Board of Directors.
• B) the date of the financial statements.
• C) the date the auditor completed the auditing procedures in the field.
• D) 60 days after the date of the financial statements as required by the SEC.

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Definitions:

Domestic Price

The cost of products or services inside the confines of a nation, in contrast to prices for international trade or exports.

Trade Price

The price at which goods or services are actually bought and sold between parties in the marketplace.

Leather Wallets

Small, foldable cases, often made of leather, used for carrying personal items such as cash, credit cards, and identification documents.

Domestic Price

The price of goods or services within a country's borders, as opposed to international or global market prices.