Which of the Following Would Not Require an Unqualified Audit

question 70

Multiple Choice

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

• A)going concern.
• B)scope limitation.
• C)emphasis of a matter.
• D)consistency in application of GAAP.

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Definitions:

Demand Equation

is a mathematical representation that shows the relationship between the quantity of a good demanded and its price along with other factors affecting demand.

Supply Equation

A mathematical formula used to describe the relationship between the price of a good or service and the quantity supplied, holding other factors constant.

Price Floor

A government- or authority-imposed minimum price that can legally be charged for a good or service.

Shortage/Surplus

A market condition where the quantity demanded exceeds supply (shortage) or supply exceeds demand (surplus), affecting prices and availability.