Which of the Following Statements Are True for the Standard

question 23

Multiple Choice

Which of the following statements are true for the standard unmodified opinion audit report of a nonpublic entity for fiscal years ending on or after June 15, 2019?
I. The management's responsibilities paragraph states that management is responsible for the preparation and the fair presentation of the financial statements.
II. The opinion paragraph is stated as a statement of absolute fact and a guarantee by the auditor.

• A) I only
• B) II only
• C) I and II
• D) Neither I nor II

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Definitions:

Fluorescent Dyes

Chemical compounds that absorb light in one wavelength and emit light at a different, usually longer, wavelength.

UV Light

Ultraviolet light, a type of electromagnetic radiation that is not visible to the human eye, known for its ability to kill bacteria and cause skin damage.

Phospholipids

A class of lipids that form the main structural component of cell membranes, made up of two fatty acids, a glycerol unit, and a phosphate group.

Lipid Bilayer

Double layer of phospholipids arranged tail-to-tail; structural foundation of all cell membranes.