Problem

An auditor’s special report on financial statements prepared in conformity with the cash b...

An auditor’s special report on financial statements prepared in conformity with the cash basis of accounting should include a separate explanatory paragraph before the opinion paragraph that

A. Justifies the reasons for departing from generally accepted principles.

B. States whether the financial statements are fairly presented in conformity with a spcial purpose framework.

C. Refers to the note to the financial statements that describes the special purpose framework.

D. Explains how the results of operations differ from financial statements prepared in conformity with generally accepted accounting principles.

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