QUALIFIED OPINION Definition

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QUALIFIED OPINION is the auditor's opinion accompanying a financial statement that calls attention to limitations in the audit or exceptions the auditor has taken with the audit of the statements.

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RECEIPT is a written acknowledgment that a specified article, sum of money, or shipment of merchandise has been received.

GENERAL LEDGER is the ledger that contains all of the financial accounts of a business; contains offsetting debit and credit accounts (including control accounts).

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