In Which One of the Following Instances Would an Auditor

question 70

Multiple Choice

In which one of the following instances would an auditor most likely issue an unqualified opinion without explanatory language?

• A)Management's disclosures are missing or inadequate.
• B)There is substantial doubt about the entity's ability to continue as a going concern.
• C)There is a significant limitation on the scope of the engagement.
• D)There is an immaterial deviation from GAAP related to capitalizing repairs.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, usually measured by GDP.

Regulatory Relief

Measures or policies implemented by regulatory bodies intended to reduce the burden or improve the conditions for regulated entities, such as easing compliance requirements.

Consumer Protection Act

A law designed to safeguard consumers from unfair, deceptive, or predatory business practices and to ensure fair trade competition.

TED Spread

The difference between the interest rates on short-term US government debt and interbank loans, indicating credit risk in the general economy.