Auditors Would Not Normally Issue a Qualified Opinion on the Entity's

question 23

Multiple Choice

Auditors would not normally issue a qualified opinion on the entity's financial statements when

• A)an accounting principle at variance with generally accepted accounting principles is used.
• B)the auditors lack independence with respect to the audited entity.
• C)a scope limitation prevents the auditors from completing an important auditing procedure.
• D)the entity has undertaken a change in accounting principle with which the auditor does not agree.

---

Definitions:

Real GDP

Gross Domestic Product adjusted for inflation, providing a more accurate measure of an economy's size and how it's grown over time.

Market Basket

A representative collection of goods and services used to track price changes for consumer expenditure and calculate inflation rates.

Base Year

A reference year against which economic or financial data is compared and indexed.

Current Year

Refers to the ongoing calendar year in which a statement is made or an event occurs.