A Disclaimer of Opinion Generally Indicates ________

question 2

Multiple Choice

A disclaimer of opinion generally indicates ________.

• A) the auditor is very uncertain with respect to an item and cannot form an opinion on the fairness of presentation of the financial statements as a whole
• B) because of a lack of evidence, the auditor is uncertain with respect to an isolated item that is material but not so material that the auditor cannot form an opinion on the fairness of presentation of the financial statements as a whole
• C) the auditor has observed a departure from generally accepted accounting principles that has a material effect upon the fairness of presentation of financial statements but the departure is not material enough to justify a qualified opinion
• D) the auditor has observed a departure from generally accepted accounting principles that is so material that a qualified opinion is not justified

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Definitions:

ACTH

Adrenocorticotropic Hormone, a hormone produced by the pituitary gland that stimulates the adrenal glands to release cortisol.

Frustration

A feeling of dissatisfaction or annoyance arising from unmet expectations or obstacles to achieving goals.

Repeated Bus Delays

Recurrent instances where buses fail to arrive or leave at their scheduled times, causing inconvenience.

Etiology

The study of the causes or origins of diseases or abnormal conditions, determining how and why they occur.