Which of the Following Is Not One of the Major

question 55

Multiple Choice

Which of the following is not one of the major differences between financial and operational auditing?

• A) The financial audit is oriented to the past, but an operational audit concerns performance for the future.
• B) The financial audit report has widespread distribution, but the operational audit report has limited distribution.
• C) Financial audits deal with the information on the financial statements, but operational audits are concerned with the information in the ledgers.
• D) Financial audits are limited to matters that directly affect the fairness of the financial statement presentation, but operational audits cover any aspect of efficiency and effectiveness.

---

Definitions:

Revolutions

Significant changes that drastically alter the social, political, or economic order, often resulting from collective action or conflict.

Colonialism

The practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.

Resource Lack

A deficiency or scarcity of resources, such as natural, financial, or human resources, often leading to competition and conflict.

Insurgency

An organized armed resistance or violent uprising to an established government or authority in power; also known as rebellion.