1.

**An assurance engagement in which the practitioner measures or evaluates the underlying
subject matter against the applicable criteria and the practitioner presents the resulting subject
matter information as part of, or accompanying, the assurance report.**
- **Direct Engagement**
- **Assertion-Based Engagement**
- **Sustainability Engagement**
- **Attestation Engagement**
- **Answer: Direct Engagement**
Explanation: In a direct engagement, the practitioner evaluates the subject matter against
criteria and presents the information in the assurance report.

2. **Which of the following statements is FALSE?**

- In combining the reasonable and limited assurance, the conclusion shall be expressed in a
neutral form.
- In a limited assurance engagement, the conclusion shall be expressed in a form that conveys
whether, based on the procedures performed and evidence obtained, a matter(s) has come to
the practitioner's attention to cause the practitioner to believe that the subject matter
information is materially misstated.
- In a limited assurance engagement, the conclusion shall be expressed in a negative form.
- In a reasonable assurance engagement, the conclusion shall be expressed in a positive form.
- **Answer: In combining the reasonable and limited assurance, the conclusion shall be
expressed in a neutral form.**
Explanation: This statement is false because the conclusion for combined reasonable and
limited assurance should be clearly expressed, not necessarily in a neutral form.

3. **Involves an objective assessment of the growth and exit options available to shareholders
and management when critical and often difficult decisions need to be made to maximize
shareholder value.**
- **Strategic planning**
- **Strategic audit**
- **Strategic program**
- **Strategic procedures**
- **Answer: Strategic audit**
Explanation: A strategic audit assesses the growth and exit options to maximize shareholder
value, making critical decisions.
4. **Under Assessment of Specified Sustainability Performance Information (Type 2), for a High
level of assurance, the assurance provider should exceed the minimum threshold for evidence
gathering for assessing the reliability and quality of specified information at the moderate level.
The assurance provider should seek additional external corroborative evidence that may
include:**
- Reviewing additional related datasets from different departments or units within the
organization which can be used to validate organizational information received during the
assurance engagement and support its conclusions
- Reviewing the organization's approach towards assessing Impact
- Information cross-checking or comparison with a wider spectrum of sources such as
accepted public databases, independent/external sources, or market recognized Artificial
Intelligence (A.I.) data, when possible.
- All of the above.
- **Answer: All of the above.**
Explanation: For a high level of assurance, comprehensive corroborative evidence from
various sources is required to ensure reliability.

5. **In the case of a reasonable assurance engagement, that the subject matter information is
prepared, in all material respects, in accordance with the applicable criteria, what kind of
conclusion or opinion that the practitioner should express?**
- Disclaimer
- Qualified
- Adverse
- Unqualified
- **Answer: Unqualified**
Explanation: An unqualified opinion indicates that the subject matter meets the criteria in all
material respects.

6. **This measures the actual year-to-year taxable income received by shareholders in the form
of dividends plus capital gains as a percentage of beginning-of-year market value.**
- Total of shareholders' return on Investment (TSR)
- Net economic value added from year to year (EVA)
- Acid test ratio (ATR)
- Cash flow return on investment (CFROI)
- **Answer: Total of shareholders' return on Investment (TSR)**
Explanation: TSR reflects the total return from dividends and capital gains as a percentage of
the initial investment value.
7. **When, in the practitioner's professional judgment, a scope limitation exists, and the effect
of the matter could be material, the practitioner should express what possible kind of
conclusion?**
- Disclaimer
- Qualified
- Unqualified
- Either two of them
- **Answer: Either two of them**
Explanation: Depending on the significance of the scope limitation, the practitioner may issue
either a disclaimer or a qualified opinion.

8. **An assurance engagement in which a party other than the practitioner measures or
evaluates the underlying subject matter against the criteria.**
- Assertion-Based Engagement
- Sustainability Engagement
- Direct Engagement
- Attestation Engagement page 131

- **Answer: Assertion-Based Engagement**

Explanation: In an assertion-based engagement, another party measures or evaluates the
subject matter, and the practitioner assesses this evaluation.

9. **It is the ability to choose the route that achieves the best result using the possibilities
available or with the latest access to the greatest goal the company seeks to achieve the
greatest profitability available.**
- Efficiency
- Economical
- Effectiveness
- Sustainable
- **Answer: Efficiency**
Explanation: Efficiency involves optimizing resources to achieve the best results.

10. **It is expressed at the degree of achievement of goals and is shared through the
relationship between the actual outputs and estimated outputs.**
- Economical
- Efficiency
- Effectiveness
- Sustainable
- **Answer: Effectiveness**
 Explanation: Effectiveness measures the extent to which goals are achieved by comparing
actual outputs to estimated outputs.

Here are the answers along with short explanations for each question:

1. **Which of the following is TRUE about REASONABLE ASSURANCE?**

- Example of reasonable assurance is the financial statement review.
- A reasonable assurance engagement provides a moderate level of assurance but will most
likely require more time and involve greater costs in substantiating the sustainability report
disclosures and gathering evidence to support the practitioner's conclusion.
- **It is an assurance engagement in which the practitioner reduces engagement risk to an
acceptably low level in the circumstances of the engagement as the basis for the practitioner's
conclusion.**
- A limited assurance engagement involves a lower level of assurance, and will likely involve
less time and cost, as the procedures are primarily limited to enquiries and analysis
- **Answer:** It is an assurance engagement in which the practitioner reduces engagement
risk to an acceptably low level in the circumstances of the engagement as the basis for the
practitioner's conclusion.
**Explanation:** Reasonable assurance engagements aim to reduce the engagement risk to
an acceptably low level.

2. **are required for reasonably consistent measurement or evaluation of an underlying subject

matter within the context of professional judgment.**
- Standards
- Criteria
- **Suitable criteria**
- Complete Criteria
- **Answer:** Suitable criteria
**Explanation:** Suitable criteria are necessary for consistent measurement or evaluation in
professional judgment.

3. **This measure highlights net cash flows from operations rather than reported income and
produces a rate of return that can be compared with alternative company or market rates of
return (the cost of capital).**
- **Cash flow return on investment (CFROI)**
- Acid test ratio (ATR)
- Net economic value added from year to year (EVA)
- Total of shareholders' return on investment (TSR)
 - **Answer:** Cash flow return on investment (CFROI)
**Explanation:** CFROI focuses on net cash flows from operations and provides a rate of
return comparable to other rates of return.

4. **Which of the following is TRUE about practitioner's expert?**

- Obtain a sufficient understanding of the field of expertise of the practitioner's expert.
- Evaluate whether the practitioner's expert has the necessary competence, capabilities and
objectivity for the practitioner's purposes. in the case of a practitioner's external expert, the
evaluation of objectivity shall include inquiry regarding interests and relationships that may
create a threat to that expert's objectivity.
- Obtain sufficient appropriate evidence that the practitioner's expert's work is adequate for
the purposes of the assurance engagement
- **All of the above.**
- **Answer:** All of the above
**Explanation:** All the mentioned criteria are necessary for ensuring the adequacy and
reliability of the practitioner's expert.

5. **In the case of a limited assurance engagement, that, based on the procedures performed
and evidence obtained, no matter(s) has come to the attention of the practitioner that causes
the practitioner to believe that the subject matter information is not prepared, in all material
respects, in accordance with the applicable criteria, what kind of conclusion or opinion that the
practitioner should express?.**
- Qualified
- Adverse
- **Unqualified**
- Disclaimer
- **Answer:** Unqualified
**Explanation:** An unqualified conclusion means the practitioner has no reservations about
the subject matter's conformity to the criteria.

6. **Key areas to cover before starting the engagement include which of the following?**
- Responsible party
- Ethics and independence
- Competence
- **All of the above.**
- **Answer:** All of the above
**Explanation:** These areas are crucial to ensure the integrity and quality of the
engagement.
7. **Which of the following is NOT TRUE about practitioner's expert?**
- **Practitioner perform and evaluates the relevance and reasonableness of that expert's
findings or conclusions in relation to the circumstances of the assurance engagement even
independence is not satisfied.**
- Practitioner evaluates the professional competence, including experience (and relevance of
that experience), and objectivity of the expert.
- Practitioner evaluates the relevance, completeness, and accuracy of that source data if that
expert's work involves the use of source data that is significant to that expert's work.
- Practitioner evaluates the relevance and reasonableness of that expert's findings or
conclusions in relation to the circumstances of the assurance engagement and the assurance
practitioner's conclusion, and their consistency with other evidence.
- **Answer:** Practitioner perform and evaluates the relevance and reasonableness of that
expert's findings or conclusions in relation to the circumstances of the assurance engagement
even independence is not satisfied.
**Explanation:** Independence is a critical requirement for evaluating the expert's findings or
conclusions.

8. **The are benchmarks used to evaluate or measure the subject underlying matter. In a
sustainability report engagement, this is the applicable sustainability reporting framework. If
suitable criteria cannot be identified or agreed upon with the client, then it may not be
appropriate to undertake the engagement.**
- Criteria page 137
- Standards
- Complete Criteria
- **Suitable criteria**
- **Answer:** Suitable criteria
**Explanation:** Suitable criteria are benchmarks necessary for evaluating or measuring the
subject matter accurately.

9. **Statement I: The assurance report shall be in writing. Statement II: The assurance report
may be in writing.**
- Both statements are true.
- Statement I is false; Statement II is true
- Both statements are false.
- **Statement I is true; Statement II is false**
- **Answer:** Statement I is true; Statement II is false
**Explanation:** Assurance reports are required to be in writing to provide a formal and
verifiable record of the engagement.

10. **This dimension includes the company's financial performance which determines its
profitability and the extent of market share expansion, and the competitive performance which
measures the company's ability to achieve a competitive advantage compared to its
competitors.**
- **Economic dimension**
- Environmental dimension
- Social dimension
- Organizational dimension
- **Answer:** Economic dimension
**Explanation:** The economic dimension pertains to financial and competitive performance
metrics.

11. **There are two types of AA1000AS v3 assurance engagement, what are those?**
- Type 1 Assurance, Adherence to the AccountAbility Principles, and Reliability and Quality of
the Performance Information and Type 2 Assurance, Adherence to the AccountAbility Principles
- Type A Assurance Adherence to the AccountAbility Principles and Type B Assurance,
Adherence to the AccountAbility Principles, and Reliability and Quality of the Performance
information
- **Type 1 Assurance, Adherence to the AccountAbility Principles and Type 2 Assurance,
Adherence to the AccountAbility Principles, and Reliability and Quality of the Performance
Information**
- Type 1 Assurance Adherence to the AccountAbility Principles and Type 2 Assurance,
Adherence to the AccountAbility Principles, Relevance, Reliability and Quality of the
Performance Information
- **Answer:** Type 1 Assurance, Adherence to the AccountAbility Principles and Type 2
Assurance, Adherence to the AccountAbility Principles, and Reliability and Quality of the
Performance Information
**Explanation:** These are the defined types of assurance engagements in AA1000AS v3.

12. **Which of the following statements is false?**

- The Assurance Statement must indicate its intended users, in the context of the purpose
and scope of the engagement.
- **Any specified sustainability performance information that has been agreed to in the scope
of the assurance engagement should not be stated.**
- The Assurance Statement must reflect the expectations and responsibilities of the reporting
organization and assurance provider as agreed upon in the engagement agreement and applied
in the engagement plan.
- The assurance provider shall take appropriate action, and reference where necessary, if
limitations encountered during the engagement make it impossible to continue the engagement
- **Answer:** Any specified sustainability performance information that has been agreed to in
the scope of the assurance engagement should not be stated.
**Explanation:** The specified sustainability performance information must be stated to
provide clarity and completeness in the assurance statement.

13. **What are the four principles based on the AA1000AP?**

- Inclusivity, Materiality, Responsiveness and Effect
- **Inclusivity, Materiality, Responsiveness and impact**
- Exclusivity, Materiality, Responsiveness and impact
- Exclusivity, Materiality, Responsiveness and Effect
- **Answer:** Inclusivity, Materiality, Responsiveness and impact
**Explanation:** These are the core principles of the AA1000AP.

14. **An Assurance Statement that is in accordance with the AA1000AS v3 shall include the
following information at a minimum under assurance information, which are Responsibilities of
the reporting organization and assurance provider, except:**
- Responsibilities of the reporting organization and assurance provider.
- **Description and sources of disclosures covered.**
- Expectations of the reporting organization and assurance provider as agreed upon in the
engagement agreement and applied in the engagement plan. page 172-173
- Description of the scope, subject matter, the type, and level of assurance provided.
- **Answer:** Description and sources of disclosures covered.
**Explanation:** While descriptions and sources of disclosures are important, the minimum
required elements focus on responsibilities, scope, subject matter, and assurance details.

15. **Under this principle, people should have a say in the decisions that impact them.**
- Exclusivity
- Impact
- **Inclusivity**
- Effect
- **Answer:** Inclusivity
**Explanation:** Inclusivity emphasizes the involvement of stakeholders in decisions that
affect them.
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Sure, here are the answers along with short explanations for each question:

1. **The AA1000AS v3 is divided into four sections. Which of the following is in the first section?
**
- it describes the purpose and scope of the AA1000AS v3 itself and identifies intended users
of the Assurance Standard. It also makes clear how the standard is applicable to reporting
organizations of all types and sizes. page 158
- **How to conduct an engagement in accordance with the standard.**
- Guidance on issuing the final Assurance Statement and optional Report to Management
- The characteristics of the AA1000AS v3 and preconditions to be considered when accepting
an engagement where the standard is to be used.
- **Answer:** How to conduct an engagement in accordance with the standard.
**Explanation:** The first section typically includes guidance on conducting the engagement.

2. **For a assurance engagement, the assurance provider shall review and assess the extent of
the organization's adherence to all four AA1000 AccountAbility Principles and provide relevant
findings and conclusions.**
- Type A
- Type 2
- Type B
- **Type 1**
- **Answer:** Type 1
**Explanation:** Type 1 engagements focus on adherence to the AccountAbility Principles.

3. **For a assurance engagement, the assurance provider shall assess the extent of the
organization's adherence to all four AA1000 AccountAbility Principles and provide relevant
findings and conclusions, and shall, additionally, assess and evidence the reliability and quality
of specified sustainability performance and disclosed information, providing relevant findings
and conclusions.**
- Type 1
- Type A
- **Type 2**
 - Type B
- **Answer:** Type 2
**Explanation:** Type 2 engagements include both adherence to principles and assessment
of specified information's reliability and quality.

4. **Which of the following is false?**

- Assurance providers should ensure that the individual assurance practitioners and
organizations, excluding external experts, involved in an assurance engagement are
demonstrably skilled and proficient. page 161
- **The assurance provider should ensure that the individual assurance practitioners, as well
as any relevant external experts involved in the assurance engagement are, at a minimum,
demonstrably competent in certain areas.**
- The Accountability Certified Sustainability Assurance Practitioner (CSAP) qualification
ensures that the individuals involved in the assurance engagement are demonstrably capable
and proficient and is highly recommended for practitioners.
- There are three grades of CSAP qualification: 1. Associate 2. Practitioner and 3. Lead
- **Answer:** The assurance provider should ensure that the individual assurance
practitioners, as well as any relevant external experts involved in the assurance engagement
are, at a minimum, demonstrably competent in certain areas.
**Explanation:** The assurance provider must ensure competence in all relevant areas, not
just certain ones.

5. **Under this principle, decision makers should identify and be clear about the sustainability
topics that matter.**
- Impact
- Exclusivity
- Responsibility
- **Materiality**
- **Answer:** Materiality
**Explanation:** Materiality ensures that decision makers focus on important sustainability
topics.

6. **Which of the following statements is true?**

- Any limitations observed related to the assessed disclosures, the assurance engagement, or
the evidence gathering, should not be documented in the Assurance Statement, along with any
approach used to mitigate the limitations.
- **The agreed disclosures (e.g., reports) to be covered by the assurance engagement should
be described.**
 - The methods and processes, using suitable criteria and standards for assurance, employed
by the assurance provider to assess an organization's sustainability disclosures about its
performance, as well as those used to assess underlying systems, information, and processes,
no need to be clearly stated.
- The Assurance Statement should not identify AccountAbility CSAP qualified individuals and
their relevant levels.
- **Answer:** The agreed disclosures (e.g., reports) to be covered by the assurance
engagement should be described.
**Explanation:** The assurance statement should clearly describe the disclosures covered by
the engagement.

7. **The assurance provider shall agree upon the level of assurance to be provided in AA1000AS
v3 Engagement. What is the level of that assurance?**
- Low Level
- High Level
- Moderate Level
- **Combination of High or/and Moderate Level**
- **Answer:** Combination of High or/and Moderate Level
**Explanation:** The assurance level can be a combination of high and/or moderate,
depending on the engagement.

8. **The term performance consists of two main elements, what are those?**
- effectiveness and economical
- economical and efficiency
- **effectiveness and efficiency**
- economical and environmental
- **Answer:** effectiveness and efficiency
**Explanation:** Performance is commonly assessed through effectiveness and efficiency.

9. **This dimension relates to the internal performance of the company, as it reflects how the
company uses its material and human resources and invests them in a way that enables
achieving its objectives.**
- Economic dimension
- **Organizational dimension**
- Social dimension
- Environmental dimension
- **Answer:** Organizational dimension
**Explanation:** Organizational dimension focuses on internal resource management and
investment.

10. **This audit provides a tool for uncover a company's culture and provides tips on using that
understanding to implement change more effectively.**
- **Culture Audit**
- Corporate Flexibility Audit
- Corporate Identity Audit
- Corporate Longevity Audit
- **Answer:** Culture Audit
**Explanation:** A culture audit helps understand and leverage a company's culture for
effective change.

11. **The importance of strategic auditing is represented by which of the following points?**
- The strategic audit assists companies to efficiently supervise and to instruct strategic
performance, as well as understanding the relationships among the operational and strategic
aspects
- The strategic audit assists in ensuring that the company's goals, plans, and policies do not
conflict with its strategic decisions, through the testing and evaluation processes for the
internal and external environment of the company.
- Assisting managers to identify and recognize the problems and deficits that cannot be
identified and resolved at the appropriate time.
- **All of the above.**
- **Answer:** All of the above
**Explanation:** Strategic auditing encompasses supervision, alignment, and problem
identification.

12. **This audit describes how managers can determine which environmental standards should
be targeted for a given organization and provides a model for auditing performance in terms of
those standards**
- **Environmental Audit**
- Customer Satisfaction Audit
- Cost of Quality Audit
- Leadership Audit
- **Answer:** Environmental Audit
**Explanation:** Environmental audits focus on targeting and assessing compliance with
environmental standards.

13. **This audit explains the complexity of the productivity concept and discusses the
evaluation of productivity in a strategic context.**
- Stakeholder Audit
- Logistics Audit
- Service Management Audit
- **Productivity Audit**
- **Answer:** Productivity Audit
**Explanation:** Productivity audits analyze productivity within a strategic framework.

14. **What is Operations and Physical Distribution Audit?**

- **Through the audit of this element is the efficiency and effectiveness of production
machines, the compatibility of company policies and strategies with manufacturing programs,
and the ability of the company to provide raw materials at a low cost.**
- This is one of the key elements that helps the company to ensure its financial independence
and maintain its balance of work. An auditor should consider the company's current financial
goals, strategies, policies, and programs and their clarity and consistency with the company's
internal and external environment.
- It is the strategic audit that aims to measure the effectiveness of human resources (HR) in
relation to the needs of other departments, and the extent to which the HR strategy contributes
to the organization's mission and objectives.
- This is a comprehensive examination of the company's marketing environment, objectives,
strategies, and activities with a view to determining problem areas and opportunities and
recommending a plan of action to improve the company's marketing performance.
- **Answer:** Through the audit of this element is the efficiency and effectiveness of
production machines, the compatibility of company policies and strategies with manufacturing
programs, and the ability of the company to provide raw materials at a low cost.
**Explanation:** This audit focuses on the efficiency and compatibility of operations and
physical distribution.

15. **is the most important requirement for the data used in the strategic review process. In
addition, the criteria should be familiar, well-understood, and accepted measures of financial
performance.**
- Neutral
- **Relevance**
- Objectivity page 185
- Reliability
- **Answer:** Relevance
**Explanation:** Relevant data is crucial for strategic reviews and must be well-understood
and accepted.
16. **deals with assurance engagements other than audits or reviews of historical financial
information, which are dealt with in International Standards on Auditing and International
Standards on Review Engagements, respectively.**
- International Standard on Assurance Engagements (ISAE) 4410
- International Standard on Assurance Engagements (ISAE) 4400
- **International Standard on Assurance Engagements (ISAE) 3000**
- International Standard on Assurance Engagements (ISAE) 3300
- **Answer:** International Standard on Assurance Engagements (ISAE) 3000
**Explanation:** ISAE 3000 covers assurance engagements outside of historical financial
audits and reviews.

17. **Which of the following is TRUE about REASONABLE ASSURANCE?**

- It involves assurance engagement with less time and cost, and does not cover the whole
process on inquiry and review.
- an assurance engagement involves costs in substantiating the sustainability report
disclosures and gathering evidence to support the practitioner's conclusion.
- an assurance engagement involves a moderate level of assurance, and will likely involve less
time and cost, as the procedures are primarily limited to enquiries and analysis.
- is an assurance engagement in which the practitioner reduces engagement risk to an
acceptably low level in the circumstances of the engagement as the basis for the practitioner's
conclusion.**
- **Answer:** It is an assurance engagement in which the practitioner reduces engagement
risk to an acceptably low level in the circumstances of the engagement as the basis for the
practitioner's conclusion.
**Explanation:** Reasonable assurance aims to reduce engagement risk to a low level.

18. **Which of the following statements is TRUE about strategic audit?**

- The strategic audit contributes to initially offering the necessary instructions and
recommendations to treat the deficits and negative aspects at the appropriate time.
- Strategic management is an important tool for the success or failure of any company and
because of the inability of other types of auditing to provide a comprehensive assessment of
the strategic management process and the performance provided. page 183
- **The strategic audit assists companies to report their strategic performance and
achievements following real evidence.**
- 2 out of 3 choices are correct.
- **Answer:** The strategic audit assists companies to report their strategic performance and
achievements following real evidence.
 **Explanation:** Strategic audits help companies report their performance and
achievements based on real evidence.

19. **Under Assessment of Specified Sustainability Performance Information (Type 2), minimum
evidence gathering for assessing the reliability and quality of specified Information at a
Moderate level of assurance should include the following except what?**
- Observing and inspecting on a sample basis management practices, process testing, and
evidence gathering (from source to aggregation) in order to sufficiently assure the
completeness and accuracy of information
- **Confirming that what is disclosed is consistent with the findings of the assurance
process.**
- Reviewing the design of processes, systems, and controls for managing reliability and
quality of specified information.
- Any information from other sources that appears to contradict assertions from the
organization investigated in the greatest appropriate detail. page 171-172

- **Answer:** Confirming that what is disclosed is consistent with the findings of the
assurance process.
**Explanation:** This confirmation is more related to reporting findings rather than evidence
gathering.

20. **This is an estimate of the absolute dollar value that is added to shareholder wealth
whenever a company gains a return on investment in excess of its cost of capital.**
- Total of shareholders' return on investment (TSR)
- Cash flow return on investment (CFROI)
- Acid test ratio (ATR)
- **Net economic value added from year to year (EVA)**
- **Answer:** Net economic value added from year to year (EVA)
**Explanation:** EVA measures the value added to shareholders by exceeding the cost of
capital.

21. **The assurance report shall be dated when?**

- After the date of the last field work.
- Earlier than the date on which the practitioner has obtained the evidence on which the
practitioner's conclusion is based.
- **Not earlier than the date on which the practitioner has obtained the evidence on which the
practitioner's conclusion is based.**
- After the date on which the practitioner has obtained the evidence on which the
practitioner's conclusion is based
 - **Answer:** Not earlier than the date on which the practitioner has obtained the evidence on
which the practitioner's conclusion is based.
**Explanation:** The report date must reflect when the practitioner has obtained sufficient
evidence.

22. **What is the main feature of strategic audit?**

- Strategic audit is that it refers to the upcoming information about the activities of the
organization and its business environment.
- **Strategic audit is to anticipate the prospects of business development.**
- Strategic audit provides a framework for systematically evaluating an information system's
security.
- Strategic audit makes it possible to significantly reduce the level of risks and provide
management of the organization information about what financial results the economic entity
should expect.
- **Answer:** Strategic audit is to anticipate the prospects of business development.
**Explanation:** Strategic audits help in forecasting future business development.

23. **What is/are the key characteristic(s) of suitable criteria?**

- Objectivity
- Relevance page 137
- Accuracy
- **All of the above.**
- **Answer:** All of the above.
**Explanation:** Suitable criteria must be objective, relevant, and accurate.

24. **Which of the following is/are modified opinion/conclusion? choose 1 or more.**

- **Disclaimer**
- Unqualified
- **Qualified**
- **Adverse**
- **Answer:** Disclaimer, Qualified, Adverse
**Explanation:** These opinions modify the standard unqualified opinion.

25. **is defined as the company's ability to survive and to achieve balance between
shareholders and employees.**
- Position
- Efficiency
- Operation
 - **Performance**
- **Answer:** Performance
**Explanation:** Performance encompasses the company's ability to balance and sustain
operations for both shareholders and employees.