QUESTION 22 If the financial statements examined by an auditor lead the auditor to issue an opinion that contains an exception that is not of sufficient magnitude to invalidate the statement as a whole, the opinion is said to be A qualified B. adverse C. unqualified D. exceptional QUESTION 23 Which of the following post-balance-shbet events would require adjustment of the accounts before issuance of the financial statements? A Loss of plant as a result of fire. B. Loss on an uncollectible account receivable resulting from a customer's major flood loss, C. Loss on a lawsuit, the outcome of which was deemed uncertain at year end, D. Changes in the quoted market prices of securities held as an investment QUESTION 24 GAAP indicates that A the three basic financial statements should be presented each time an interim period is reported upon B. the same accounting principles used for the annual report should be employed for interim reports C. all companies that issue an annual report should issue interim financial reports D. the discrete view is the most appropriate approach to take in preparing interim financial reports