The Wording of a Negative Expression of Opinion Generally Statthat

question 38

Multiple Choice

The wording of a negative expression of opinion generally statthat:

• A) there is nothing wrong with the subject matter.
• B) there is something wrong with the subject matter.
• C) there is nothing that has come to the attention of the auditors that would lead them to believe that the information being assured is not true and fair.
• D) there is something that has come to the attention of the auditors that would lead them to believe that the information being assured is not true and fair.

---

Definitions:

Accounts Receivable

Amounts owed to a company by customers for products or services that have been delivered but not yet paid for.

Average Collection Period

A financial metric that calculates the average number of days it takes for a company to receive payments from its customers.

Net Sales

Income generated from sales once returns, allowances for damaged or missing items, and discounts have been subtracted.

Accounts Receivable

Represents the money owed to a business by its customers for goods or services delivered but not yet paid for.