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Federico is auditing Quiet Inc. Federico needs to give an opinion on the company's financial statements. What does it mean if Federico gives an Unqualified

Federico is auditing Quiet Inc. Federico needs to give an opinion on the company's financial statements. What does it mean if Federico gives an Unqualified Opinion?
the financial statements are presented fairly, in all material respects
the financial statements have not been presented fairly in accordance with GAAP
the financial statements are presented fairly and according to GAAP except for a certain area
the auditor cannot evaluate the fairness of the financial statements, and therefore does not express an opinion on them
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