Which of the Following Would Be Considered a Performance Audit

question 112

Multiple Choice

Which of the following would be considered a performance audit under the Government Auditing Standards?

• A) An investigation into whether a purchasing department of a government was operated efficiently.
• B) An investigation into whether a social service agency of a state government improved the lives of its clients.
• C) Both A and B above.
• D) Neither A nor B above.

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Definitions:

Continental Illinois

A notable example of a major bank failure, occurred in the 1980s, which led to significant reforms in banking regulations.

Overdraft Privileges

A banking service that allows a customer to withdraw more money than they have in their account, usually for a fee.

Spanish-Milled Silver Dollar

A widely recognized coin that was minted in the Spanish Empire following the introduction of the mechanical press, becoming an international standard for trade.

Pieces Of Eight

Historically referred to as Spanish dollars, these were silver coins that played a crucial role in world trade during the 17th and 18th centuries.