Which of the Following Reports Must Be Audited by an Outside

question 121

Multiple Choice

Which of the following reports must be audited by an outside agency?

• A)Annual financial statements
• B)Monthly financial statements
• C)Annual financial budgets
• D)All of the above

---

Definitions:

Paired-Choice Voting

A voting system where voters choose between pairs of candidates or options in a series of rounds, each round narrowing down the choices until a winner is decided.

Majority Voting

A voting system where the decision or choice that receives more than half of the votes wins.

Public Good

Items or services provided at no cost to everyone in a society, offered by the government or by private organizations or people, without any profit-seeking intentions.

Majority Vote

A decision-making process where the option receiving more than half of the votes from a group is chosen.