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ACCT 431 Ch 12 Repts Audited FS

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  • 1. Multiple Choice
    45 seconds
    1 pt

    Which of the

    following statements is not

    included in the Auditor’s Responsibility section of the standard

    (unmodified) report?

    “In accordance with accounting principles generally accepted in the United States of America.”

    “We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.”

    “An audit also includes evaluating the appropriateness of accounting policies used….”

    “Those standards require that we plan and perform the audit to obtain reasonable assurance...”

  • 2. Multiple Choice
    45 seconds
    1 pt

    Which of the

    following statements is not

    included in the Auditor’s responsibility section of the standard

    (unmodified) report on the entity's financial statements?

    “We have audited the accompanying financial statements…”

    “Those standards require that we plan and perform the audit...”

    “The procedures selected depend upon the auditor’s judgment…”

    “An audit involves performing procedures to obtain audit evidence about the amounts and disclosures…”

  • 3. Multiple Choice
    30 seconds
    1 pt

    If financial

    statements contain a material but non-pervasive departure from generally

    accepted accounting principles, the auditors should render a(n)

    Qualified opinion with reference to departure.

    Adverse opinion with scope limitation reference.

    Adverse opinion with reference to departure

    A. Disclaimer of opinion.

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