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Question 1: (A1) (5 Points) For each of the following statement, write T or F to indicate whether the statement is true or false. 1.

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Question 1: (A1) (5 Points) For each of the following statement, write T or F to indicate whether the statement is true or false. 1. Internal control is not specifically mentioned in the auditor's report. 2. When scope limitation is raised, the auditor could issue an adverse opinion. 3. Audit procedures are applied to all audit engagements with no variation. 4. When the auditor has come to conclusion that the financial statements lack adequate discourse, he should refer to the fact in a paragraph before his opinion. 5. The auditor's report should refer directly to the management responsibilities regarding the financial statements. 6. A disclaimer of opinion is mostly used when the auditor believes the financial statements depart materially from GAAP. 7. An unqualified opinion is an evidence that the financial statements are free of any misstatements. 8. Existence assertion is solely extended to physical assets, such as cash and buildings. 9. Recording sales revenue before its earned is primarily related to completeness. 10. Right and obligation assertion targets income statements elements

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