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) adverse.
D) disclaimed.

Question

Quizplus · Accepted Answer

The statement of cash flows is a required financial statement under generally accepted accounting principles (GAAP). Not including it would result in a qualified opinion due to the omission of a required financial statement.

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