Which Type of Audit Opinion Is Appropriate If an Auditor

question 150

Multiple Choice

Which type of audit opinion is appropriate if an auditor is not deemed to be independent?

• A) Disclaimer of opinion.
• B) Unqualified.
• C) Qualified.
• D) Adverse.

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Definitions:

Production Cost

The total expense incurred in the manufacturing of goods, including materials, labor, and overhead costs.

Standard Cost

A predetermined cost for a product or service, used as a benchmark to measure performance and efficiency.

Budgeted Cost

An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.

Homogeneous

Describing products or materials that are uniform in composition or character; identical items with no variance.