Place the letter of the report type that best fits

Place the letter of the report type that best fits the language presented on the answer line. Each report type may be used more than once or not at all, but each item has only one best answer. If you think more than one answer may apply, choose the BEST answer.
a. Explanatory language
b. Unqualified opinion with qualification for GAAP departure
c. Qualified opinion
d. Qualified opinion because of a scope limitation
e. Qualified opinion because of an ICFR deficiency
f. Qualified opinion because of a GAAP departure
g. Qualified opinion because of a change in accounting standards
h. Qualified opinion because of lack of independence
i. Qualified opinion plus explanatory language
j. Qualified opinion for dual dating
k. Qualified opinion to reflect need to rely on another auditor
l. Disclaimer of opinion because of a scope limitation
m. Disclaimer of opinion because of lack of independence
n. Adverse opinion
o. Combined report with unqualified opinions on financial statements and ICFR
1. In our opinion, the Company did not maintain, in all material respects, effective internal control over financial reporting as of March 31, 2010, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO)...
2. In addition, as discussed in Note 9 to the consolidated financial statements, effective January 1, 2007, the Company adopted Accounting for Uncertainty in Income Taxes, FASB ASC 740-10.
3. We are not independent with respect to XYZ Company, and the accompanying balance sheet as of December 31, 19X1, and the related statements of income, retained earnings, and cash flows for the year then ended. ...
4. ...because of the effects of the matters discussed in the preceding paragraphs, the financial statements referred to above do not present fairly. ...
5. We have also audited in accordance with the standards of the Public Company Accounting Oversight Board (United States) the company's internal control over financial reporting as of December 31, 2010, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated August 6, 2011 expressed an unqualified opinion thereon.
6. ... except for the effects of such adjustments, if any, as might have been determined to be necessary...
7. The accompanying financial statements have been prepared assuming that ABC, Inc. will continue as a going concern. As more fully described in Note 1, the Company filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code on January 29, 2010, which raises substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to this matter are also described in Note 1.
8. The Company did not make a count of its physical inventory...The Company's records do not permit the application of other auditing procedures. ...the scope of our work was not sufficient to enable us to express. ...
9. In our opinion, except for the omission of the information discussed in the preceding paragraph....
10. In our opinion, based on our audits and the report of other auditors, the financial statements referred to above present fairly, in all material respects...
11. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of W Company as of December 31, 2010 and 2009.... Also in our opinion, W Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2010.
12. We did not audit the financial statements of B Company, a wholly-owned subsidiary, which statements reflect total assets and revenues constituting 20 percent and 22 percent, respectively of the related consolidated totals. ... In our opinion, based on our audit and the report of the other auditors, the consolidated financial statements referred to above present fairly. ...
13. In our opinion...the financial statements present fairly... Dated February 16, 2010, except for Note 16, as to which the date is March 1, 2010.
14. Except as discussed in the following paragraph, we conducted our audits in accordance with auditing standards.... In our opinion, except for the effects...the financial statements present fairly. ...
15. As discussed in Note X to the financial statements, the 20X2 financial statements have been restated to correct a misstatement.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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