Items That Materially Affect the Comparability of Financial Statements Generally

question 113

Multiple Choice

Items that materially affect the comparability of financial statements generally require disclosure in the footnotes. If the client refuses to properly disclose the item, the auditor will most likely issue

• A) a disclaimer.
• B) an unqualified opinion.
• C) a qualified opinion.
• D) an adverse opinion.

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Definitions:

Credit Union

A financial institution owned and controlled by its depositors, who usually have a common employer, profession, trade group, or religion.