King, CPA, Was Engaged to Audit the Financial Report of Newton

question 41

Multiple Choice

King, CPA, was engaged to audit the financial report of Newton Company after its fiscal year had ended. King neither observed the inventory count nor confirmed the receivables by direct communication with debtors but was
Satisfied concerning both after applying alternative procedures. King's auditor's report most likely contained a(n) :

• A) unmodified opinion with an explanatory paragraph.
• B) unmodified opinion.
• C) disclaimer of opinion.
• D) qualified opinion.

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Definitions:

Freedmen

Former enslaved individuals who were emancipated, especially in the context of the United States following the Civil War.

Reconstruction

The period after the American Civil War (1865-1877) focused on rebuilding the United States, especially the South, and integrating formerly enslaved people into society.

Congress

A legislative body of a country, particularly in the United States, responsible for making laws.

Reconstruction Acts

Legislation passed after the Civil War that outlined the process for re-admitting Southern states into the Union, while also establishing conditions for suffrage and civil rights for formerly enslaved people.