Which of the Following Is Not Explicitly Stated in the Standard

question 62

Multiple Choice

Which of the following is not explicitly stated in the standard unmodified opinion audit report?

• A) The financial statements are the responsibility of management.
• B) The audit was conducted in accordance with generally accepted accounting principles.
• C) The auditors believe that the audit evidence provides a reasonable basis for their opinion.
• D) An audit includes assessing the accounting estimates used.

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Definitions:

Private Consumptions

Refers to the spending on goods and services by individuals or households rather than by the government or businesses.

Total Amount

The entire sum or quantity of something, often referring to a final total in financial contexts.

Utility Function

A numerical depiction of the ranking of a consumer's preferences among various products or results.

Private Consumptions

Expenditure by households and non-profit institutions serving households on goods and services used for individual consumption.