Which of the following is a statement that attests that the financial statements made in an audit are fairly stated, without limitations?
A)Adverse opinion
B)Qualified opinion
C)Unqualified opinion
D)Favorable opinion
E)Disclaimer of opinion

Question

Quizplus · Accepted Answer

An unqualified opinion is a statement that attests that the financial statements made in an audit are fairly stated, without limitations. This is the best possible outcome for the audit report. A qualified opinion indicates that there are some limitations or exceptions with the financial statements, an adverse opinion indicates that the financial statements are not fairly stated, and a disclaimer of opinion indicates that the auditor is unable to render an opinion on the financial statements. A favorable opinion is not a recognized term in auditing.

Which of the Following Is a Statement That Attests That