Choice "A" is correct. The auditor may report on one basic financial statement and not the others provided these steps are taken by the auditor. The auditor should also perform procedures on any interrelated items as necessary, such as sales and receivables, inventory and payables, and fixed assets and depreciation.
Choice "d" is incorrect. Materiality only comes into play when dealing with a piecemeal opinion, not an opinion on one entire statement.
Choice "c" is incorrect. If Maxim is a nonissuer, it would not need to abide by GAAP, thus many of the financial statement requirements would not apply.
Choice "b" is incorrect. A disclaimer of opinion on the other statements is not required as long as there is no limitation on the information underlying the basic financial statements.