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24 Jan 2018

22 Which of the following is not used to describe the types notes to the financial statements a. To provide descriptions of the accounting rules that applied in the companys financial statements b. To provide information on managements responsibility for financial statement information. C. To provide additonal detail about a line on the financial statements d. To provide additional financial statement disclosures about items not listed on the statement themselves. e. None of the above. The correct answer is 'b'.

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Casey Durgan
Casey DurganLv2
26 Jan 2018
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14 Which of the following types information are incuded in the notes to the financial statements? a. Description of the key accounting policies. b. Additional details supporting reported amounts in the financial statements. C. Relevant financial information not disclosed in the statements. d. All of the above. e. None of the above. The correct answer is 'd'.

13 Notes to the financial statements include all the following except for: a. Management discussion of results and future risks b. Description of key accounting principles used in the financial statements C. Additional details supporting the amounts reported in the financial statements d. Relevant financial information not disclosed in the body of the financial statements e. None of the above The correct answer is 'a'.

I am trying to find NOT unqualified opinion. Some reports do not say "unqaulified." Does it mean that they are NOT UNQUALIFIED? Here is a report. If it is not unqualified, please explain me why it is not unqualified. In other words, it is qualified or adverse.

To the Board of Directors and Stockholders

Duonas Corp.

We have audited the accompanying balance sheets of Duonas Corp. as of June 30, 2017 and 2016, and the related statement of operations, changes in stockholders’ equity and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits include consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audits include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our audits also include assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Duonas Corp. as of June 30, 2017 and 2016 and the related statement of operations, changes in stockholders’ equity and cash flows for the years then ended in conformity with U.S. generally accepted accounting principles.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has had no revenues and earnings since inception. These conditions, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management's plans concerning these matters are also described in Note 2, which includes achieving profitable operations and raising additional funds. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ TAAD, LLP

Diamond Bar, CA

September 1, 2017

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