During a Review of the Financial Statements of a Nonpublic

question 20

Multiple Choice

During a review of the financial statements of a nonpublic entity, an accountant becomes aware of inadequate disclosure that is material to the financial statements. If management refuses to correct the financial statement presentations, the accountant should

• A) Issue an adverse opinion.
• B) Issue an "except for" qualified opinion.
• C) Disclose this departure from generally accepted accounting principles in a separate paragraph of the report.
• D) Express only limited assurance on the financial statement presentations.

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Definitions:

Nasal Conchae

Curved bony projections in the nasal cavity that help to filter, warm, and moisten the air we breathe.

Zygomatic Process

A projection of the temporal bone that forms part of the zygoma, or cheekbone, connecting with the zygomatic bone of the face.

Mandible

The lower jawbone, which is the largest, strongest bone in the face, serving for the reception of the lower teeth and providing structure for facial shape and motion.

Maxillary

Relating to the upper jawbone, which forms part of the face and holds the upper teeth.