When Analyzing the Various Types of Opinions That the Auditor

question 153

Multiple Choice

When analyzing the various types of opinions that the auditor can issue,

• A) an adverse opinion must contain the phrase "except for" in the opinion paragraph.
• B) an adverse opinion can only be issued when there is a lack of knowledge by the auditor.
• C) a disclaimer of opinion can be issued for material or immaterial misstatements.
• D) a qualified opinion report can be used only when the auditor concludes that the overall financial statements are fairly stated.

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Definitions:

Due Date

The specific day by which a task is to be completed or a payment is to be made.