Governmental Units and Many Not-For-Profit Organizations Are Subject to Government

question 39

True/False

Governmental units and many not-for-profit organizations are subject to Government Auditing Standards in addition to the Statements on Auditing Standards, issued by the American Institute of Certified Public Accountants AICPA.

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Definitions:

Quantitative Measurements

The process of determining the quantity, amount, or range of something as established by numerical values.

Qualitative Measurements

The assessment of characteristics, attributes, or properties by means of subjective judgments or observations rather than by numerical measurements.

Corporate Social Responsibility

A strategy in business that supports sustainable growth by providing economic, societal, and ecological advantages to every stakeholder involved.

Mission Statement

A brief description of a company's fundamental purpose and core values, outlining its goals and guiding its decisions.