During a Review of the Financial Statements of a Nonpublic

question 35

Multiple Choice

During a review of the financial statements of a nonpublic entity, an accountant becomes aware of inadequate disclosure that is material to the financial statements. If management refuses to correct the financial statement presentations, the accountant should:

• A)issue an adverse opinion.
• B)issue an "except for" qualified opinion.
• C)disclose this departure from generally accepted accounting principles in a separate paragraph of the report.
• D)express only limited assurance on the financial statement presentations.

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Definitions:

College Expenses

Costs associated with attending college, which can include tuition, room and board, books, supplies, and other living expenses.

Scientific Methodologies

A systematic process of inquiry involving observation, experimentation, and analysis to acquire knowledge and enhance understanding.

Useful Data

pertains to information that is relevant, reliable, and can be effectively utilized for decision-making processes or problem-solving.