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1-An auditor has discovered fraud which casts doubt on the financial statement preparation and presentation. The auditor is not sure about the extent of fraud

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1-An auditor has discovered fraud which casts doubt on the financial statement preparation and presentation. The auditor is not sure about the extent of fraud but knows that the account in which the misstatement is identified makes up about 75% of the entity's total assets. Which of the following opinions should the auditor report? A. Disclaimer of Opinion B. Unqualified Opinion C. Adverse Opinion D. Qualifted Opinion 2.-ABC Oll Exploration was undergoing a financial statement audit. The auditors could not obtain sufficient evidence about the inventory value of ABC Oil as on the Balance Sheet date. However, based on the numbers reported in the Balance Sheet, they realized that inventory makes up a big chunk of ABC 's total assets. This might result in: A. No impact on the audit report 8. An unqualified opinion C. An Adverse opinion D- A disclaimer of opinion

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