An Unqualified (Or Clean) Opinion Issued by an External Auditor

question 24

Multiple Choice

An unqualified (or clean) opinion issued by an external auditor means:

• A) the financial statements are reliable, except for one or more items stated in the third paragraph
• B) the financial statements are unreliable
• C) the auditor was unable to reach a professional opinion
• D) the statements are reliable

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Definitions:

Supervisor Salaries

Compensation paid to employees who are in charge of overseeing and managing other workers.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, typically used to assess the availability of cash for operational needs.

Cash Receipts

The total amount of money, including cash, checks, and credit card payments, received by a business during a specific period.

Cash Payments

Cash Payments are transactions wherein monetary exchange occurs through the transfer of physical currency or electronic equivalents for goods, services, or debts.