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blankship blankship
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A year ago
Management has recorded prepaid insurance as an asset in the previous year. This year, to reduce record-keeping costs, it expenses insurance. If the amount is immaterial to the financial statements,

▸ a disclaimer opinion is issued.

▸ a qualified opinion is issued.

▸ a standard unmodified opinion audit report is issued.

▸ no audit report can be issued.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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jay2013jay2013
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A year ago
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blankship Author
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A year ago
This site is awesome
husne
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Good timing, thanks!
jmendoza
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2 hours ago
Thanks
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