An Unqualified Audit Opinion

question 130

Multiple Choice

An unqualified audit opinion:

• A) Should be ignored by investors because the person issuing the opinion does not have the qualifications required to analyze financial statements.
• B) Is the most favorable opinion auditors can express.
• C) Is issued to alert investors to potential financial problems.
• D) Is not issued by auditors who hold CPA certification.

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Definitions:

Horatio Seymour

An American politician from New York who served as the Governor of New York and was the Democratic Party's nominee for President in 1868.

Presidential Election

The selection process for appointing a president, which usually involves a nationwide vote to choose among candidates nominated by political parties or standing as independents.

Land Redistribution

The process by which ownership of land is reallocated, often as a policy intended to equitize the distribution of agricultural land or to rectify historical imbalances in ownership.

Rural Freedmen

Refers to formerly enslaved African Americans who lived in rural areas of the Southern United States following the Civil War and Emancipation.