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:

Sequence of Operations

The specific order in which tasks or activities must be carried out to complete a process or manufacture a product efficiently.

Component

An individual part or element that, when combined with others, forms a complex product, system, or assembly.

Process Sheet

A document that provides details on the steps, materials, and equipment needed to complete a job or manufacturing process.

Route Sheet

A document that provides detailed instructions and sequences for production processes, including operations to be performed, equipment to be used, and time required.