If an Auditor Concludes the Financial Statements Contain Only Immaterial

question 24

Multiple Choice

If an auditor concludes the financial statements contain only immaterial errors, then the auditor should:

• A) correct the errors.
• B) have the client correct the errors.
• C) issue an unqualified ("clean") opinion on the financial statements.
• D) issue a qualified opinion on the financial statements.

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Definitions:

Psychological Objections

Refers to the mental barriers or reservations potential customers might have against purchasing a product or service, often based on emotional factors or personal biases.

Direct Denial

A straightforward refusal or rejection of a request, claim, or offer without providing an alternative or compromise.

Handle Objections

Refers to the process by which salespeople overcome customer concerns or hesitations regarding a product or service.

No-Need Objection

An objection in which the prospect declares he or she does not need the product and implies the end of the selling effort, but which may actually be either a hidden or a stalling objection.