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AGA Exam CGFM Topic 3 Question 51 Discussion

Actual exam question for AGA's CGFM exam
Question #: 51
Topic #: 3
[All CGFM Questions]

Which of the following opinions is not expressed by auditors as to whether financial statements are expressed fairly in all material respects with respect to generally accepted accounting principles?

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Suggested Answer: D

by Carri at Jul 05, 2024, 09:31 AM

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Lyndia
3 months ago
Hmm, 'reversal opinion'? Is that like when the auditor says 'I changed my mind, these statements are actually terrible'? That sounds hilarious, but probably not the right answer.
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Jerry
3 months ago
Ooh, I bet the answer is A) Unqualified opinion. That's the good one, where the auditor is like 'Yep, everything looks good!'
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Artie
2 months ago
Yeah, that's the opinion you want to see on financial statements.
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Marjory
3 months ago
I think you're right, A) Unqualified opinion is when everything looks good.
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Carmelina
3 months ago
B) Qualified opinion is the one where the auditor has some reservations about the financial statements, right? That makes the most sense to me.
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Beckie
3 months ago
I'm pretty sure the answer is C) Disclaimer. That's the one where the auditor can't express an opinion due to limitations.
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Giuseppe
2 months ago
That makes sense, thanks for clarifying.
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Roxanne
2 months ago
Yes, C) Disclaimer is when the auditor can't express an opinion.
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Staci
2 months ago
I agree, C) Disclaimer is the correct answer.
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Domonique
2 months ago
D) Reversal opinion
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France
3 months ago
C) Disclaimer
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Mira
3 months ago
B) Qualified opinion
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Leonida
3 months ago
A) Unqualified opinion
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Tyisha
4 months ago
I agree with Nathan, disclaimer opinions are definitely expressed by auditors.
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Elliott
4 months ago
D) Reversal opinion? What is that even supposed to mean? Auditors definitely don't give a 'reversal opinion'!
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Crista
2 months ago
D) Reversal opinion is not a term used by auditors in expressing their opinion.
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Teddy
2 months ago
C) Disclaimer is when auditors cannot express an opinion on the financial statements.
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Tequila
3 months ago
B) Qualified opinion is when auditors have concerns but overall believe the financial statements are fairly presented.
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Jesusa
3 months ago
A) Unqualified opinion is when auditors express that the financial statements are fairly presented.
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Nathan
4 months ago
But auditors do express disclaimer opinions sometimes, so it could be the correct answer.
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Reiko
4 months ago
No, I believe the correct answer is C) Disclaimer.
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Nathan
4 months ago
I think the answer is D) Reversal opinion.
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