When a misstatement in the financial statements would affect a user's decision but the overall statements are still fairly stated, it would be appropriate to issue
A) an unqualified opinion.
B) a qualified opinion.
C) an adverse opinion.
D) a disclaimer of opinion.

Question

Quizplus · Accepted Answer

A misstatement in the financial statements would indicate that there is a departure from GAAP but if the overall statements are still fairly stated, a qualified opinion may be issued. This opinion informs users that there is a deviation from GAAP, but the deviations are not severe enough to issue an adverse opinion or disclaimer of opinion.

When a Misstatement in the Financial Statements Would Affect a User's