Which of the Following Phrases Would Auditors Most Likely Include

question 53

Multiple Choice

Which of the following phrases would auditors most likely include in their report when expressing a qualified opinion on the entity's financial statements because of inadequate disclosure?

• A)"Subject to the departure from generally accepted accounting principles,as described above".
• B)"With the foregoing explanation of these omitted disclosures".
• C)"Except for the omission of the information discussed in the preceding paragraph".
• D)"Does not present fairly in all material respects".

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Definitions:

Wisdom

The ability to think and act using knowledge, experience, understanding, common sense, and insight.

Ethics

A branch of philosophy dealing with moral principles and values governing individual and group behavior.

Good

An item or product that is manufactured or produced for sale, or anything that serves a need or desire.

Right

A moral or legal entitlement to have or obtain something or to act in a certain way.