Which of the following is a type of audit opinion that a firm would usually prefer?
A)Uqualified opinion
B)Qualified opinion
C)Adverse opinion
D)Clear opinion
E)None of the answers are correct.

Question

Quizplus · Accepted Answer

An unqualified opinion is the best type of audit opinion that a firm would usually prefer, as it indicates that the financial statements are fairly presented in all material respects and in compliance with the generally accepted accounting principles (GAAP). A qualified opinion, adverse opinion, or disclaimer of opinion may suggest that there are significant deficiencies or uncertainties in the financial statements, which could potentially harm the firm's reputation, creditworthiness, or regulatory compliance.

Which of the Following Is a Type of Audit Opinion