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.
BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).
EXAMINE is an audit procedure to critically examine something.
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