A Basis for Modification Paragraph in the Audit of the Financial

question 17

Multiple Choice

A basis for modification paragraph in the audit of the financial statements of a nonpublic company:

• A)Is only included with qualified, adverse or disclaimers of opinion.
• B)Is presented after the opinion paragraph.
• C)Has a section title: Emphasis-of-Matter.
• D)Must be included in all nonpublic company audit reports.

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Definitions:

Evolution

is the process by which different kinds of living organisms have developed and diversified from earlier forms during the history of the earth.

Ancient Species

A term usually referring to species that have existed on Earth for a very long time and may either be extinct or have modern descendants.

Laurasia

Laurasia refers to the northernmost of two supercontinents (the other being Gondwana) that formed part of the Pangaea supercontinent in late Paleozoic and early Mesozoic times.

Continental Structure

The geological configuration and constituents of continents, including the crust, mantle shelf areas, and tectonic activities.