Which of the Following Statements Is Not True About the United

question 15

Multiple Choice

Which of the following statements is not true about the United States government-wide financial report?

• A) Since 1997,the financial statements of the U.S.government as a whole have been audited by the GAO.
• B) The majority of the 24 major federal agencies required to be audited have received unqualified audit opinions by the GAO.
• C) The Comptroller General of the United States has rendered a disclaimer of opinion on the U.S.Government's consolidated financial statements for as long as that office has audited these statements.
• D) The federal government received an unqualified opinion from the GAO on the most recent financial statements of the U.S.government as a whole.

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Definitions:

Level of Inventory

The quantity of goods, materials, and products held in stock by a business at a specific point in time.

Disposable Income

Post-income tax financial means available to households for saving and spending.

Control

in the context of management and business, refers to the process of regulating activities and verifying that everything is proceeding according to plan, to ensure the achievement of goals.

Disposable Income

Earnings left after subtracting taxes and social security contributions, which can be either saved or spent according to one's preferences.