16. Audits conducted by external accountants express an opinion: (1 Point) A) that evaluates the effectiveness of management. B) that taxing authorities use to ensure that the correct amount of tax owing has been calculated. ) that gives investors confidence their investment is not at risk. O D) on whether or not the financial statements fairly reflect the economic events that occurred during the ac- counting period. 17. Which of the following statements should be prepared before the balance sheet is prepared? (1 Point) A) statement of owner's equity B) statement of financial position ) income statement ( D) statement of owner's equity and income statement