Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 1 - Introduction to Financial Statements - Do it! - Review: 1-4

Answer

a) MD&A b) auditor's report c) notes to financial statements d) MD&A e) auditor's report f) notes to financial statements

Work Step by Step

a) Opinions about the ability to pay debts is subjective information that would be included in the MD&A. b) An unqualified opinion is given by an auditor. c) Detailed information about the financial statements can be included in the notes. d) Identifying trends is subjective and would be included in the MD&A. e) Only a CPA can act as an auditor. f) Descriptions of accounting policies is not subjective and can be included in the notes.
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