When an Adverse Opinion Is Expressed, the Opinion Paragraph Should

question 52

Multiple Choice

When an adverse opinion is expressed, the opinion paragraph should include a direct reference to:

• A)the paragraph outlining the auditor's responsibility, which discusses the basis for the opinion rendered.
• B)a footnote to the financial report that discusses the basis for the opinion.
• C)the consistency or lack of consistency in the application of accounting principles.
• D)a separate qualification paragraph that discusses the basis for the opinion rendered.

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Definitions:

Philadelphia

A city in Pennsylvania, United States, significant for its historical importance in American independence and as the location of the first and second Continental Congresses.

Kansas-Nebraska Act

A piece of legislation passed by the U.S. Congress in 1854 that allowed inhabitants of Kansas and Nebraska territories to decide whether to allow slavery, leading to significant political and social conflict.

Popular Sovereignty

A principle that the authority of a state and its government are created and sustained by the consent of its people, through their elected representatives.

Missouri Compromise

An agreement passed in 1820 between the pro-slavery and anti-slavery factions in the United States Congress, involving primarily the regulation of slavery in the western territories.