The global capital market has grown rapidly due to widespread ________ of financial instruments, which results in the conversion of illiquid financial instruments, such as bank loans, into tradable securities, such as bonds

The amount due on the maturity date of a $12,000, 60-day 8%, note receivable is:

a. $6,000. b. $12,000. c. $160. d. $12,160. e. $5,920.

Due to a scope limitation, an auditor disclaimed an opinion on the financial statements as a whole, but the auditors report included a statement that the current asset portion of the entity's balance sheet was fairly stated. The inclusion of this statement is

A. Not appropriate because it may tend to overshadow the auditor's disclaimer of opinion. B. Not appropriate because the auditor is prohibited from reporting on only one basic financial statement. C. Appropriate, provided the auditor's responsibility section adequately describes the scope limitation. D. Appropriate, provided the statement is in the basis for disclaimer of opinion paragraph preceding the disclaimer of opinion paragraph.