Which of the Following Is NOT One of the Major

question 62

Multiple Choice

Which of the following is NOT one of the major differences between financial and performance auditing?

• A) The financial audit is distributed to many readers, whereas the performance audit report goes to a few managers.
• B) Financial audits are limited to matters that directly affect the financial statements, whereas performance audits cover any aspect of efficiency and effectiveness.
• C) Financial audits deal with the information in the financial statements, whereas performance audits are concerned with the information in the ledgers.
• D) The financial audit is oriented to the past, whereas a performance audit concerns performance for the future.

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Definitions:

Global Basis

A perspective or action at the worldwide level, considering global impact rather than local or national alone.

Least Amount

The minimal quantity or degree of something required or present.

Canada

Canada is a country in North America, known for its vast landscapes, multicultural cities, and as a member of the Commonwealth, with a parliamentary democracy and a constitutional monarchy.

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance, essential for all known forms of life, and the most widely used solvent.