When There Has Been a Change in Accounting Principle That

question 55

Multiple Choice

When there has been a change in accounting principle that materially affects the comparability of the comparative financial statements presented for a public company and the auditor concurs with the change,the auditor should $\begin{array} { l l l } \text { Concur Explicitly } & \text { Issue an "Except for" } & \text { Refer to the Change in } \\\underline{\text { In the Change }} &\underline{ \text { Qualified Opinion }} & \underline{\text { an Explanatory Paragraph} } \\\end{array}$
A. $\begin{array} { l l l } \text { No } &\quad\quad\quad\quad\quad\quad\quad\quad \text { No } &\quad\quad\quad\quad\quad\quad\quad \text { Yes } \\\end{array}$
B. $\begin{array} { l l l } \text { Yes } & \quad\quad\quad\quad\quad\quad\quad\quad \text { No } &\quad\quad\quad\quad\quad\quad\quad \text { Yes } \\\end{array}$
C. $\begin{array} { l l l } \text { Yes } &\quad\quad\quad\quad\quad\quad\quad\quad \text { Yes } &\quad\quad\quad\quad\quad\quad\quad \text { No } \\\end{array}$
D. $\begin{array} { l l l } \text { No } &\quad\quad\quad\quad\quad\quad\quad\quad \text { Yes } &\quad\quad\quad\quad\quad\quad\quad \text { No }\end{array}$

• A)A.
• B)B.
• C)C.
• D)D.

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