A Client Has Changed the Salvage Values of a Number

question 4

Multiple Choice

A client has changed the salvage values of a number of its fixed assets. The auditors believe that the revised salvage values are realistic. The appropriate report on the financial statements is:

• A) Standard unmodified.
• B) Unmodified with explanatory language as to consistency.
• C) Qualified for consistency.
• D) Disclaimer.

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Definitions:

Kidnap

The unlawful act of abducting someone and holding them captive, typically to obtain a ransom.

Marital Happiness

The degree of satisfaction and joy that individuals derive from their marriage or matrimonial relationship.

Self-Reports

A method by which individuals provide subjective information or accounts of their own behavior, experiences, or characteristics.

African Americans

An ethnic group in the United States with ancestors who were primarily brought from Africa to North America as slaves between the 16th and 19th centuries.