SOLVED

26) When an audit is complete, an accountant usually issues a[n] ________ letter stating his or her assessment of the company that was audited. A) Opinion B) Responsive C) Accounting D) Disclaimer E) Auditing 27) If no, or insubstantial, accounting procedures were used in the compilation of the document, a financial statement is considered . A) Audited B) Generally accepted C) Qualified D) Unaudited E) Unqualified 28) When an accountant is hired to perform a task, the contract the accountant enters into with a client is referred to as a[n] ________. A) Performance letter B) Engagement letter C) Accounting and auditing agreement D) Procurement letter E) Accounting contract 29) An accountant is entitled to which of the following in the instance of a breach of contract where the accountant completed substantial performance? A) No more than one thousand dollars. B) The full amount of the contractually agreed-on fee minus the amount of damages caused by the accountant. C) The contractually agreed-on fee without any deduction. D) Nothing. E) A reasonable hourly rate. 30) Fraud without fraudulent intent is known by which term? A) Immaterial fraud B) Constructive fraud C) Reliance fraud D) Actual fraud E) Presumed fraud  Â