Which of the Following Would Not Result in an Unqualified

question 89

Multiple Choice

Which of the following would not result in an unqualified audit report with an explanatory paragraph?

• A)Going concern issue.
• B)Scope limitation.
• C)Emphasis of a matter.
• D)Consistency of presentation.

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Definitions:

Acid-Test Ratio

A financial metric used to evaluate a company's ability to pay off its current liabilities with its quick assets.

Year-End Information

Financial and operational data summarizing a company's performance over the course of a fiscal year, often used for analysis and reporting purposes.

Income Statements

A financial report that shows a company's revenue and expenses, resulting in net income or loss over a specific period.

Periodic Inventory System

An inventory accounting system where inventory counts and cost of goods sold calculations are made at set intervals, such as monthly or yearly.