The Term "Opinion Unit" Refers to Which of the Following

question 39

Multiple Choice

The term "opinion unit" refers to which of the following?

• A) A state or local government together with its component units
• B) A level of reporting of a government that requires a separate materiality level
• C) A division of a CPA firm
• D) One of the four statements required in the second paragraph of an unqualified audit opinion

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Definitions:

Straight-Line Methods

Straight-line methods are used in accounting to allocate the cost of an asset evenly over its useful life for the purposes of depreciation.