The Objective of an Audit of the Financial Statements Is

question 116

Multiple Choice

The objective of an audit of the financial statements is an expression of an opinion on

• A) the fairness of the financial statements in all material respects.
• B) the accuracy of the financial statements.
• C) the accuracy of the annual report.
• D) the accuracy of the balance sheet and income statement.

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Definitions:

Unlimited Liability

A legal situation in which the owners of a business are personally responsible for all the debts and liabilities of the business.