Which of the Following Is Not Considered an Opinion Unit

question 21

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) Management's discussion and analysis (MD&A).
• C) Each major governmental fund.
• D) Business-type activities.

---

Definitions:

Percentage of Sales Budgeting

A method of budgeting where marketing and other expenses are based on a fixed percentage of sales revenue.

Objective and Task Budgeting

A budgeting method that involves defining specific marketing objectives and the costs associated with achieving them.

Promotion Objectives

The specific goals that a company aims to achieve through its promotional activities, such as increasing brand awareness, generating leads, or boosting sales.

Promotion Cost

Expenses associated with marketing and selling a product, including advertising, public relations, and promotional materials.