The GAO Reports Directly to The

question 35

Multiple Choice

The GAO reports directly to the:

• A) general public via the news media.
• B) SEC.
• C) president of the country.
• D) IRS.
• E) U. S. Congress.

---

Definitions:

Strategic Planning

A systematic process for envisioning a desired future and translating this vision into broadly defined goals and a sequence of steps to achieve them.

Marginal Cost

The increase in cost that arises from producing one additional unit of a product or service.

Average Variable Cost

The per unit variable cost of production, calculated by dividing total variable costs by the quantity of output produced.

Simulation Analysis

A process of modeling a real-world situation to study the effects of different parameters and anticipate possible outcomes.