Which of the Following Is Not a Governmental Audit Opinion

question 28

Multiple Choice

Which of the following is not a governmental audit opinion unit?

• A) Governmental activities.
• B) Business-type activities.
• C) Each Major Fund.
• D) All of the above are opinion units.

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Definitions:

Equipment

Tangible property used in operations, such as machinery or computers, which has a useful life beyond a single reporting period.

Furniture

Tangible, movable objects intended to support various human activities such as seating, eating, and sleeping, often considered a fixed asset in business accounting.

Fully Depreciated

The status of an asset after its cost has been completely written off over its useful life.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense since the asset was put into use.