4. In which of the following instances would an auditor most likely issue a standard unqualified opinion WITHOUT an explanatory paragraph? a. Management disclosures are missing or inadequate. b. There is substantial doubt about the entity's ability to continue as a going-concern. c. Due to staffing issues, the audit report was issued later than in previous years. d. There is an material deviation from GAAP related to capitalizing repairs. e. None of the above.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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4. In which of the following instances would an auditor most likely issue a standard unqualified opinion
WITHOUT an explanatory paragraph?
a. Management disclosures are missing or inadequate.
b. There is substantial doubt about the entity's ability to continue as a going-concern.
c. Due to staffing issues, the audit report was issued later than in previous years.
d. There is an material deviation from GAAP related to capitalizing repairs.
e. None of the above.
Transcribed Image Text:4. In which of the following instances would an auditor most likely issue a standard unqualified opinion WITHOUT an explanatory paragraph? a. Management disclosures are missing or inadequate. b. There is substantial doubt about the entity's ability to continue as a going-concern. c. Due to staffing issues, the audit report was issued later than in previous years. d. There is an material deviation from GAAP related to capitalizing repairs. e. None of the above.
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