Which of the following is true regarding an unaudited statement?

Multiple Choice

• The fact that a financial statement was unaudited increases the level of inquiry for which the accountant will be responsible.

• The fact that a financial statement was unaudited lowers the level of inquiry for which the accountant will be responsible.

• Merely issuing an unaudited statement creates a disclaimer as to the financial statements accuracy.

• Merely issuing an unaudited statement serves as an adverse opinion.