When amounts are so material that an adverse opinion is required, the opinion statement must clearly state that the financial report:
A) does not present a true and fair view.
B) could not be audited.
C) are not free from material error.
D) should not be relied on.

Question

Quizplus · Accepted Answer

An adverse opinion indicates that the financial statements do not present a true and fair view of the company's financial position, results of operations, or cash flows.

When Amounts Are So Material That an Adverse Opinion Is