AGA Exam CGFM Topic 1 Question 46 Discussion

Actual exam question for AGA's CGFM exam

Question #: 46
Topic #: 1

If a reportable condition might result in a material misstatement of financial statements, then it must be noted as a:

AMaterial weakness

BUnqualified report

CRevised situation

DAdverse condition

Show Suggested Answer

Suggested Answer: A

by Nelida at May 10, 2024, 08:18 AM

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6 months ago

I see your point. A material weakness could be crucial here. I'll go with A too.

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7 months ago

Makes sense. An unqualified report wouldn’t fit.

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7 months ago

Because a material weakness directly impacts the financial statements.

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7 months ago

Really? Why do you think so?

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7 months ago

I think it’s A) Material weakness.

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7 months ago

That question is tough. What do you all think the answer is?

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