An adverse opinion states that,except for the effects of the matter(s)to which the qualification relates,the financial statements present fairly,in all material respects,the financial position,results of operations,and cash flows of the entity in conformity with generally accepted accounting principles.

Question

Quizplus · Accepted Answer

An adverse opinion states that the financial statements do not present fairly the financial position, results of operations, and cash flows of the entity in conformity with generally accepted accounting principles, except for the effects of the matter(s) to which the qualification relates. Therefore, the statement in option A is not true for an adverse opinion.

An Adverse Opinion States That,except for the Effects of the Matter(s)to