Which of the Following Statements Best Explains an Unmodified Report

question 33

Multiple Choice

Which of the following statements best explains an unmodified report opinion?

• A)The financial statements contain a departure from GAAP.
• B)The auditor was unable to complete the work necessary to form a complete opinion.
• C)The auditor was not aware of any reasons not to believe the statements are correct.
• D)Based on the evidence obtained,the auditor believes the statements are free of material error.

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Definitions:

Tariff

A tax imposed on imported goods and services, aimed to make imported goods more expensive and thus less competitive compared to domestic goods.

Imported Rice

Rice that is produced in one country and then shipped and sold in another country, often to meet demand that cannot be met by domestic production.

Tax Increases

Government-imposed hikes in taxes, which can affect consumer spending, investment decisions, and overall economic growth.

Industrial Production

The total output of the industrial sector, including manufacturing, mining, and utilities, within an economy.