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When Financial Statements Contain a Departure from GAAP Because of Unusual

question 57

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When financial statements contain a departure from GAAP because of unusual circumstances and the statements would otherwise be misleading,the auditors should explain the unusual circumstances in a separate paragraph and express an opinion that is


Definitions:

Emotions

Complex psychological states that involve three distinct components: a subjective experience, a physiological response, and a behavioral or expressive response.

Intentionality

The property of being directed toward some object or situation in the world (a characteristic of mental states such as emotions or beliefs).

Consciousness

Mental awareness (not to be confused with conscience).

John Locke

A 17th-century English philosopher and political theorist, recognized as a founder of modern philosophical empiricism and liberalism.

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