If a misstatement is immaterial relative to the financial statements of the entity for the current period and is not expected to have a material effect in future periods,it is appropriate to issue
A)an unmodified opinion.
B)a qualified opinion.
C)an adverse opinion.
D)a disclaimer of opinion.

Question

Quizplus · Accepted Answer

An unmodified opinion is appropriate when the misstatement is immaterial relative to the financial statements of the entity for the current period and is not expected to have a material effect in future periods. This type of opinion indicates that the financial statements are presented fairly in accordance with the applicable reporting framework.

If a Misstatement Is Immaterial Relative to the Financial Statements