A Client Decides to Change Accounting Procedures for Certain Types

question 12

Multiple Choice

A client decides to change accounting procedures for certain types of transactions which will have a material impact on the financial statements. The client adopts an accounting change promulgated by GAAP but this change has no effect on the current period financial statements. The auditor should issue what type of opinion?

• A) Qualified opinion.
• B) Unqualified opinion.
• C) Disclaimer of opinion.
• D) Depending on the circumstances, the auditor may choose any of the above.

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Definitions:

Immune-System Functioning

The processes and activities through which the immune system protects the body from infections, diseases, and other foreign substances.

Preoperational Stage

Piaget’s second stage of cognitive development, lasting from about two to seven years of age, during which thought is more symbolic than sensorimotor thought.

Piaget's

Referring to the theories of cognitive development proposed by Jean Piaget, which describe how children's abilities to think and reason develop through distinct stages.

Cellular-Clock Theory

A theory suggesting that aging is the result of cells hitting a limit on the number of times they can replicate, often tied to the length of telomeres.