An Auditor's Decision Concerning Whether or Not to "Dual Date

question 15

Multiple Choice

An auditor's decision concerning whether or not to "dual date" the audit report is based upon the auditor's willingness to:

• A)extend auditing procedures.
• B)accept responsibility for all events between year-end and the audit report date.
• C)permit inclusion of a footnote captioned: event (unaudited)subsequent to the date of the auditor's report.
• D)assume responsibility for events subsequent to the issuance of the auditor's report.

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Definitions:

Opportunity for Inspection

A provision allowing a buyer to examine goods before purchase to ensure they meet the agreed standards and specifications.

Substantial-Impairment Requirement

This refers to a legal standard requiring a significant or meaningful reduction in the ability to perform or enjoy a right, service, or facility.

Trivial Defects

Minor imperfections or flaws that do not significantly affect the usability or function of an item or property.

Perfect Tender Rule

A principle under the Uniform Commercial Code permitting a buyer to reject goods if they or their delivery fail to conform exactly to the contract, with certain exceptions.