When Financial Statements of a Prior Period Are Presented on a Comparative

question 26

Multiple Choice

When financial statements of a prior period are presented on a comparative basis with financial statements of the current period,the continuing auditor is responsible for:

• A)Expressing dual dated opinions.
• B)Updating the report on the previous financial statements only if there has not been a change in the opinion.
• C)Updating the report on the previous financial statements only if the previous report was qualified and the reasons for the qualification no longer exist.
• D)Updating the report on the previous financial statements regardless of the opinion previously issued.

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Definitions:

World of Actions

A concept referring to the realm or domain where human actions take place, influenced by decisions, morals, and societal norms.

Western Metaphysical Viewpoints

A series of philosophical perspectives originating from the Western tradition, focusing on the nature of reality, existence, and the fundamental characteristics of the universe.

Unity

Refers to the state of being one or unified, often used in various contexts such as philosophical discussions of being, art, and literature to denote a harmonious whole.

Reality

The sum or aggregate of all that is real or existent, as opposed to that which is merely imaginary.