When financial statements do not present fairly the financial condition,results of operations,and cash flows of an entity,an auditor would mostly likely issue a(n):
A) Adverse opinion.
B) Disclaimer of opinion.
C) Qualified opinion.
D) Unqualified opinion.

Question

Quizplus · Accepted Answer

An adverse opinion is issued when the financial statements are materially misstated and do not present fairly the financial condition, results of operations, and cash flows of an entity. It indicates that the financial statements are not reliable and should not be relied on by the users of financial statements.

When Financial Statements Do Not Present Fairly the Financial Condition,results