GFOA Exam CPFO Topic 11 Question 92 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 92
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 Brett at Jul 07, 2024, 05:39 PM

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Kimbery

4 months ago

Haha, 'Reversal opinion'? Sounds like something straight out of a Monty Python sketch. I'll go with C, the good old Disclaimer.

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Shizue

4 months ago

This question is really testing our auditing knowledge, huh? I'm going to have to go with C. Disclaimer - can't go wrong with the classic!

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Paz

3 months ago

D) Reversal opinion

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Osvaldo

3 months ago

C) Disclaimer

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Eladia

4 months ago

B) Qualified opinion

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Steffanie

4 months ago

A) Unqualified opinion

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Talia

5 months ago

I'm going to have to agree with Malcolm on this one. 'Reversal opinion' just sounds made up. Qualified opinion is the way to go!

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Kristofer

3 months ago

'Reversal opinion' does sound suspicious. Qualified opinion is the way to go for sure.

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Eun

3 months ago

I think 'Qualified opinion' is the best option too. 'Reversal opinion' doesn't seem like a real thing.

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Lonny

3 months ago

I agree, 'Reversal opinion' does sound made up. Qualified opinion is the correct choice.

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Daron

3 months ago

I'm with you on this one. 'Reversal opinion' doesn't seem like a real thing. Qualified opinion is the way to go.

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Toi

4 months ago

I think 'Reversal opinion' is not a valid option. Qualified opinion is the best choice here.

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Julian

4 months ago

I agree, 'Reversal opinion' does sound made up. Qualified opinion is the correct choice.

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Nobuko

5 months ago

I agree with Felix, disclaimer opinions are definitely expressed by auditors in certain situations.

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Felix

5 months ago

But auditors do express disclaimer opinions when they are unable to obtain sufficient evidence.

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Malcolm

5 months ago

B, Qualified opinion, is the one that stands out to me as the odd one out here. The rest seem like legitimate audit report types.

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Kiera

5 months ago

Definitely not D. That's just nonsensical. Gotta go with the classic C - Disclaimer.

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Stephaine

5 months ago

Hmm, I'm pretty sure 'Reversal opinion' is not a thing. What kind of crazy exam question is this?

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Lorrie

4 months ago

Yeah, it must be a trick option to throw us off.

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Shawn

4 months ago

I agree, 'Reversal opinion' doesn't sound right.

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Leonor

5 months ago

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

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Felix

5 months ago

I think the answer is D) Reversal opinion.

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