Inter Manufacturing Company used to depreciate its equipment at the rate of 20%. During the current year, management decreased its equipment depreciation rate to 17% because it felt that it better represented the utilization of the assets. The auditor concurs with this decision. All information is adequately disclosed in the financial statements. In this case, the auditor would issue a (an): * Unqualified opinion plus an explanatory paragraph Qualified opinion O Adverse opinion Unqualified opinion

Inter Manufacturing Company used to depreciate its equipment at the rate of 20%. During the current year, management decreased its equipment depreciation rate to 17% because it felt that it better represented the utilization of the assets. The auditor concurs with this decision. All information is adequately disclosed in the financial statements. In this case, the auditor would issue a (an): * Unqualified opinion plus an explanatory paragraph Qualified opinion O Adverse opinion Unqualified opinion

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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