19. When the financial statements are fairly stated but the auditor concludes there is substantial doubt whether the client can continue in existence, the auditor should issue ain): a) Unqualified opinion. b) Unqualified opinion with explanatory paragraph. d) Qualified opinion. dy Adverse opinion. e) Disclaimer of opinion. 10. When the Recorded sales transactions have occurred, this indicates the assertion of: a) Valuation and allocation b) Rights and obligations c) Existence d) Completeness e Occurrence 12. When the Sales transactions have been recorded at the correct amounts, this indicates the assertion of a) Accuracy b) Existence Completeness d) Classification e) Occurrence 4. When the Recorded accounts receivable exist, this indicates the assertion of: a) Accuracy b) Valuation and allocation Rights and obligations d) Existence e) Occurrence 14. When the management's refusal to permit the auditor to physically examine inventory, the auditor should issue an): a) Unquaffied opinion. b) Unqualified opinion with explanatory paragraph. Qualified opinion. d) Adverse opinion. e) Disclaimer of opinion. c) 22. When the Receivables are appropriately classified as to trade and other receivables in the financial statements and are clearly described, this indicates the assertion of: a) Accuracy b) Accuralty and valuation c) Classification and understandability d) Cutoff e) Completeness 4. When the Recorded accounts receivable exist, this indicates the assertion of: a) Accuracy b) Valuation and allocation C Rights and obligations d) Existence e) Occurrence 5. During the year, changes in the market resulted in a significant decrease in the demand products, which are now being sold significantly below cost. The client refuses to write-c products or to increase the reserve for obsolescence, the auditor should issue a(n): a) Unqualified opinion. b) Unqualified opinion with explanatory paragraph. C Qualified opinion. d) Adverse opinion. e) Disclaimer of opinion. 16. When the There are no liens or other restrictions on accounts receivable, this indicates the assertion of: a) Accuracy b) Cutoff I c) Valuation and allocation d) Rights and obligations e) Existence In Point 18. When the All required disclosures about sales and receivables have been made, this indicates assertion of a) Accuracy b) Accuracy and valuation C) Classification and understandability d) Completeness e) Classification 7. The auditor shall issue the unqualified audit report with explanatory paragraph or modified wording when the following conditions occur except: a) Substantial doubt about going concern b) Emphasis of other matters C) The changes in accounting principles that that affect consistency d) The changes in accounting principles that affect comparability 25. What type of opinion is issued when the auditor having obtained sufficient appropriate audit evidence, concludes that misstatements, individually or in the aggregate, are both material and pervasive to the financial statements? a) Reserved. b) Qualified. c) Disclaimer. d) Adverse. 22. When the Receivables are appropriately classified as to trade and other receivables in the financial statements and are clearly described, this indicates the assertion of. a) Accuracy b) Accuracy and valuation c) Classification and understandability d) Cutoff e) Completeness