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For each of the following brief scenarios, assume that you are the CPA reporting on the clients financial statements. Match the type of opinion that
For each of the following brief scenarios, assume that you are the CPA reporting on the clients financial statements. Match the type of opinion that best fits the circumstance. Note slight differences, such as when a misstatement is pervasive or the fact pattern indicates pervasiveness. Do not read more into the circumstance than what is presented. Unless stated otherwise, assume that the information presented is material to the financial statements.
QUESTION 1 0.0000 For each of the following brief scenarios, assume that you are the CPA reporting on the client's financial statements. Match the type of opinion that best fits the circumstance. Note slight differences, such as when a misstatement is pervasive or the fact pattern indicates pervasiveness. Do not read more into the circumstance than what is presented. Unless stated otherwise, assume that the information presented is material to the financial statements. A Your client has declined to depreciate its assets ADVERSE this year because the depreciation expense B. would reduce the year's small income to a loss and the dollar amount is pervasive. UNQUALIFIED PLUS ADDITIONAL LANGUAGE C. DISCLAIMER D. B A client's financial statements follow GAAP, but UNQUALIFIED you wish to emphasize that the client is a subsidiary of Webster Corporation in the audit report
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