If the financial statements examined by an auditor lead the auditor to issue an opinion that contains an exception that is not of sufficient magnitude to invalidate the statement as a whole, the opinion is said to be
A) unqualified.
B) qualified.
C) adverse.
D) exceptional.

Question

Quizplus · Accepted Answer

When the financial statements contain an exception that is not significant enough to invalidate the statement as a whole, the auditor issues a qualified opinion. A qualified opinion indicates that the financial statements are fairly presented with the exception of the specific item(s) identified by the auditor.

If the Financial Statements Examined by an Auditor Lead the Auditor