Post Utme Igbinedion University 2023 Commerce Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2023 Commerce Objective / Multiple Choice
Question 1 POST_UTME_IGBINEDION_UNIVERSITY • 2023 • COMMERCE • objective

A company's financial statements are audited annually by an independent auditor. The auditor's report is based on the company's financial statements for the year ended December 31, 2022. The auditor's report states that the financial statements are presented fairly in all material respects, in accordance with the accounting standards applicable in Nigeria. What is the primary purpose of the auditor's report?

Answer Options

A. To express an opinion on the company's financial position and performance.
B. To identify any material weaknesses in the company's internal control over financial reporting.
Correct Answer C. To provide an assurance that the company's financial statements are free from material misstatements.
D. To provide a detailed description of the company's business operations.
Correct Answer
C
Correct Option:
To provide an assurance that the company's financial statements are free from material misstatements.

About This Question

This is Post Utme Igbinedion University 2023 Commerce Question 1. It is one of the objective questions from the 2023 Post Utme Igbinedion University Commerce examination.

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