After the balance sheet date but prior to issuance of the auditor's report the auditor learns that the client's facility in a foreign country has been expropriated
Management refuses to disclose this information in a financial statement footnote or present pro-forma data as to the effect of the event. The auditor should
A) add a footnote to the financial statements.
B) disclaim an opinion due to the client imposed scope limitation.
C) provide the information in the report and modify the opinion.
D) issue an unqualified opinion but provide the information in the auditor report.
C
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Adore cosmetics had to increase the SPF value of their sunscreen lotions marketed in the Middle East to provide more protection against UV radiation. Which of the following factors is dictating product adaptation in the above scenario?
A. Legal requirements. B. Cultural requirements. C. Economic requirements. D. Climatic requirements. E. Political requirements.
Which of the following describes the effect of a stock dividend?
A) A stock dividend immediately increases the market price of a share of stock. B) A stock dividend immediately decreases the paid-in capital account. C) A stock dividend immediately increases the number of shares outstanding. D) A stock dividend indicates that the company must be short on cash.