7. Which of the following situations requires an emphasis-of-matter paragraph as part of the audit report?

Changing estimated useful lives of fixed assets Changing the bad debt expense calculation Changing the depreciation method of fixed assets Writing off goodwill due to impairment

10. What type of audit opinion would the auditors issue when GAAP is not consistently applied and the issue is presented properly?

Adverse Disclaimer of opinion Qualified Unmodified with emphasis-of-matter paragraph

13. Which of the following statements applies to notes to the financial statements?

Notes are an important part of financial statements. Notes are not included as part of the audit opinion. Notes are not required, but are included for user comfort. Notes are not required because they only provide explanations of included data.

14. Where is appropriate placement of an emphasis-of-matter paragraph in an audit report?

After the opinion paragraph Before the opinion paragraph Before or after the opinion paragraph Last paragraph of the report

Question 15.15. Which of the following situations is least likely to result in a scope restriction? Adverse opinion Disclaimer of opinion Qualified opinion Standard unmodified opinion

Question 19.19. What type of audit opinion would the auditors issue if they discovered a change to the useful life of assets that results in the lives being more accurately reflected? Disclaimer of opinion Standard unmodified opinion Unmodified with an emphasis-of-matter paragraph Unmodified with a qualified departure paragraph