DATE DRAFT is a payment option draft that matures in a specified number of days after the date issued.
FOOT A COLUMN is to add a column of numbers. To test footing is to add the column again to check accuracy.
OPINION PARAGRAPH is the paragraph in the audit report that expresses the auditor's
conclusions. The wording of the standard, unqualified opinion paragraph is: "In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of XYZ Company at December 31, year A, and the results of its operations and its cash flows for the year then ended in conformity with U.S. generally accepted accounting principles."
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