Subsequent to the close of Spacely Sprockets fiscal year ending October 31, 2019, a major debtor has declared bankruptcy due to a series of events. The receivable is significantly material in relation to the financial statements, and recovery is doubtful. The debtor had confirmed the full amount due to Spacely Sprocket at the balance sheet date. Because the account was confirmed at the balance sheet date, Spacely refuses to disclose any information in relation to this subsequent event. The CPA believes that all other accounts were stated fairly at the balance sheet date. In addition, Spacely changed their method of inventory valuation from FIFO to LIFO. This change was disclosed in Note X to the financial statements. Accordingly, what type of opinion should be expressed?
◦ unqualified with an explanatory paragraph
◦ qualified due to a GAAP departure
◦ qualified due to a scope limitation
◦ a combination of qualified due to a GAAP departure and qualified due to a scope limitation
Teres Major & Teres Minor
The major arteries of the body.
The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ...
Structures of the major prostaglandins and thromboxane A2
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...