Question

A(n) ________ is an auditor's opinion that states that the financial statements are fairly represented except...

A(n) ________ is an auditor's opinion that states that the financial statements are fairly represented except for, or subject to, a departure from Generally Accepted Accounting Principles (GAAPs), a change in accounting principles, or a material uncertainty.

A. qualified opinion

B. adverse opinion

C. disclaimer of opinion

D. unqualified opinion
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Answer #1

Answer:

a. Qualified Opinion

Explanation:

Qualified Opinion is a modification of the auditor's standard report, employing a cause such as except for to limit the auditor's opinion on financial statements. In other words, a qualified opinion indicates that, except for the effect of or subject to some departure from Generally Accepted Accounting Principles, the financial statements are fairly prepared.

It is different from adverse opinion, disclaimer of opinion and unqualified opinion.

Therefore, the correct answer is option A: Qualified Opinion.

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