A Common Reason Why a Government Might Receive a "Qualified

question 57

Multiple Choice

A common reason why a government might receive a "qualified opinion" from the external auditors is

• A) A violation of generally accepted accounting principles that does not cause material misstatement of the financial statements.
• B) A fund balance deficit in the General Fund.
• C) Poor internal controls such that the accounting records could not be audited.
• D) Liabilities exceed assets in the General Fund.

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Definitions:

MBA Degree

A Master of Business Administration, a graduate-level degree focusing on business management and administrative skills.

Population Mean

The average value of all the members of a set or population.

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A spread of statistical figures, obtained by analyzing samples, seen as encompassing the unseen value of a population parameter.