A typical,unqualified audit report indicates that the audited company's:
A)financial statements are presented in accordance with GAAP.
B)financial statements present fairly the company's financial condition and operating performance for a period of time.
C)financial statements provide substantial evidence that the company is a safe investment.
D)A and B

Question

Quizplus · Accepted Answer

A typical, unqualified audit report indicates that the financial statements are presented in accordance with generally accepted accounting principles (GAAP) and that they fairly present the company's financial condition and operating performance for a period of time. The audit report does not provide information about the safety or suitability of the company as an investment. Therefore, options A and B are correct, and option C is incorrect.

A Typical,unqualified Audit Report Indicates That the Audited Company's