Which of the Following Is Not Considered an Opinion Unit

question 58

Multiple Choice

Which of the following is not considered an opinion unit requiring a materiality determination associated with a financial statement audit of a state or local government?

• A) Aggregate discretely presented component units.
• B) Investment trust fund financial statements.
• C) Each major governmental fund.
• D) Business-type activities.

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Definitions:

Manufacturing Firms

Companies that produce goods on a large scale using machinery, often involving the transformation of raw materials into finished products.

Strike

A work stoppage caused by the mass refusal of employees to work, usually in a bid to gain improved wages or working conditions.

Communications Technology

The array of tools and platforms used for the exchange or transmission of information, including traditional media, digital platforms, and telecommunication systems.

Bureaucracies

Systems of government or organizations characterized by a hierarchical structure, fixed routines, and a division of labor, aimed at enhancing efficiency.