Multiple Choice
Which of the following is not a purpose of the financial audit that accompanies statements?
A) ensuring compliance with fiscal requirements
B) render an opinion about whether the statements present fairly the financial position, results of operation, and cash flows of the government
C) to comment on the economy, efficiency or program results of a governmental unit
D) statements have been prepared in accordance with GAAP, GASB, and state, municipal, and federal laws
Correct Answer:
Verified
Correct Answer:
Verified
Q1: GASB Statement No.34 requires the reporting for
Q2: Major funds are described as<br>A)the general fund
Q3: Converting the governmental fund balance sheet to
Q4: Briefly discuss the minimum requirements of the
Q6: The statement of Cash Flows includes only
Q7: Audit reports prepared under the Single Audit
Q8: Reciprocal interfund activities include interfund services between
Q9: The Single Audit Act requires that a
Q10: General purpose financial statements are part of
Q11: When operations of component units of government