On Which of the Following Matters Would It Not Be

question 20

Multiple Choice

On which of the following matters would it not be appropriate for the auditors to report using an other-matter paragraph?

• A)A material inconsistency between other information and the financial statements.
• B)Procedures performed related to supplementary mineral reserve information required by the Financial Accounting Standards Board.
• C)The consistency of summary financial statements with the audited financial statements from which they were derived.
• D)An updated opinion on comparative financial statements that differs from the opinion originally issued by the auditors.

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Definitions:

Tariff

A tax or duty to be paid on a particular class of imports or exports, used by governments to control trade and protect domestic industries.

Import Quota

A specific limit or maximum quantity (or value) of a good permitted to be imported into a country during a given period.

U.S. Imports

Goods and services brought into the United States from other countries for sale.

Net Exports

The value of a country's total exports minus the value of its total imports.