Asked by Stacey Nolasco on Jun 12, 2024
Verified
A(n) ________ opinion is a qualified opinion by an auditor that indicates that the financial statements are an accurate reflection of the company's financial health apart from some minor deviation from GAAP,not serious enough to warrant an adverse opinion.
A) "except for"
B) "unless"
C) "adverse"
D) "indeterminate"
Qualified Opinion
An auditor's statement issued when they have reservations about aspects of the financial statements of a company.
Financial Statements
Documents that provide an overview of a company's financial condition, including balance sheets, income statements, and cash flow statements.
GAAP
Generally Accepted Accounting Principles; a set of accounting standards and practices used for financial reporting in the U.S.
- Comprehend the meaning and implications of different types of audit opinions.
Verified Answer
Learning Objectives
- Comprehend the meaning and implications of different types of audit opinions.
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