GFOA Exam CPFO Topic 11 Question 84 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 84
Topic #: 11

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?

AUnqualified opinion

BQualified opinion

CDisclaimer

DReversal opinion

Show Suggested Answer

Suggested Answer: D

by Helene at Apr 08, 2024, 10:41 AM

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Basilia

5 months ago

Actually, the answer is C) Disclaimer, as auditors are hesitant to provide a clear opinion in such cases.

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Leandro

5 months ago

I agree with Shawn, D) Reversal opinion does not align with auditor's opinions.

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Carlton

5 months ago

I disagree, I believe the correct answer is C) Disclaimer.

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Shawn

5 months ago

I think the answer is D) Reversal opinion.

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Amos

5 months ago

I don't think D is a valid opinion expressed by auditors. It must be something else.

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Velda

6 months ago

What about D? I'm not sure about reversal opinion.

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Amos

6 months ago

I remember A is unqualified opinion, B is qualified opinion, and C is disclaimer.

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Velda

6 months ago

Do you know the answer options?

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Amos

7 months ago

Yeah, it's about whether the financial statements are in accordance with accounting principles.

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Velda

7 months ago

I think the question is asking about auditor opinions on financial statements.

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Stevie

8 months ago

I don't know, you guys. What if it's a trick question and they're trying to see if we know all the possible opinions? Maybe we're missing something here.

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Brandee

8 months ago

Yeah, that's got to be the answer. I mean, the other three are legitimate audit opinions, but 'reversal opinion'? Come on, that's just made up.

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Stephen

7 months ago

C) Disclaimer

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Leonor

7 months ago

B) Qualified opinion

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Shonda

7 months ago

A) Unqualified opinion

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Fanny

8 months ago

Exactly. And the question is asking which one is not an actual opinion expressed by auditors. So, it's gotta be that 'reversal opinion' nonsense, right?

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Veronika

8 months ago

Okay, let's think this through. We've got the classic options: unqualified, qualified, and disclaimer. Those are the ones we need to know inside and out.

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Jacquelyne

8 months ago

Haha, right? I bet the exam writers just wanted to see who would fall for that one. Gotta keep us on our toes, I guess.

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Chauncey

8 months ago

This is a tricky one! I mean, who even comes up with these 'reversal opinion' options? That's not a real thing, is it?

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