2. Consider the following statements: I. Inconsistent application of accounting principles (i.e. a change in accounting principle, which the auditor agrees is acceptable) would result in a unqualified audit opinion. II. For a change in accounting principles that management does NOT justify to the auditor, the auditor will likely issue a Disclaimer of an audit opinion. a. Iis true; Il is true b. Tis true; Il is false c. I is false; Il is true

2. Consider the following statements: I. Inconsistent application of accounting principles (i.e. a change in accounting principle, which the auditor agrees is acceptable) would result in a unqualified audit opinion. II. For a change in accounting principles that management does NOT justify to the auditor, the auditor will likely issue a Disclaimer of an audit opinion. a. Iis true; Il is true b. Tis true; Il is false c. I is false; Il is true

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

2. Consider the following statements:
I. Inconsistent application of accounting principles (i.e. a change in accounting principle, which
the
auditor agrees is acceptable) would result in a unqualified audit opinion.
II. For a change in accounting principles that management does NOT justify to the auditor, the
auditor will likely issue a Disclaimer of an audit opinion.
a. Tis true; Il is true
b. Iis true; Il is false
c. I is false; Il is true
d. I is false; II is false

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