If the State and Local Governments Are Not Ready to Meet

question 28

Multiple Choice

If the state and local governments are not ready to meet the guidelines of GASB 34, the consequences may be serious and costly. The implications of noncompliance include all of the following EXCEPT:

• A) Qualified or adverse opinion on financial statements from external auditors.
• B) Improves financial credibility.
• C) Possible regulatory violations and Diminished public trust.
• D) Decrease in bond rating and corresponding increase in cost of financing debt.

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Definitions:

Exit Interviews

Interviews conducted with departing employees to gain insights into their experience with the organization and reasons for leaving.

Surveys

A research method used for collecting data from a predefined group of respondents to gain information about opinions, behaviors, or characteristics.

Feedback or Follow-up

The process of providing constructive information about someone's performance or the act of maintaining contact after an initial interaction to ensure continued progress.

Surveys

Research methods used for collecting data from a predefined group of respondents to gain information and insights on various topics of interest.