The management of Finner Company believes that "the statement of cash flows is not a very useful statement" and does not include it with the company's financial statements. As a result the auditor's opinion should be:
A)qualified.
B)unqualified.
C)clean.
D)disclaimed.

Question

Quizplus · Accepted Answer

The auditor's opinion should be qualified because the statement of cash flows is a required financial statement under GAAP and its absence affects the completeness of the financial statements. A qualified opinion indicates that the financial statements taken as a whole are fairly presented except for a specific matter, in this case, the absence of the statement of cash flows.

The Management of Finner Company Believes That "The Statement of Cash