Which of the following statements regarding additional information that is included in a document containing audited financial statements is not true?   Group of answer choices 1: Additional information can be subject to certain limited procedures by the auditor. 2: Additional information can be the subject of another information opinion. 3: Additional information can be the subject of an in-relation-to opinion. 4: Additional information can be subject to a limited review by the auditor.

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A: The answer is stated below:

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Q: Exercise 3 -7 1. Martin and Isidore form a partnership with investments of P 1,000,000 and P 500,000…

A: The partnership comes into existence when two or more persons agree to do the business and further…