If the state and local governments are not ready to meet the guidelines of GASB 34, the consequences may be serious and costly. The implications of noncompliance include all of the following EXCEPT:
A) Qualified or adverse opinion on financial statements from external auditors.
B) Improves financial credibility.
C) Possible regulatory violations and Diminished public trust.
D) Decrease in bond rating and corresponding increase in cost of financing debt.
Correct Answer:
Verified
Q98: Groups may be informal (e.g., peer groups)
Q99: Many _ are conducted in accordance with
Q100: _ addresses performance measures by requiring agencies
Q101: _are used to allocate and account for
Q102: All of the following are the additional
Q104: _is one in which each specific budgetary
Q105: During the _, the data are aggregated
Q106: Financial management in the public sector differs
Q107: Information used in reporting should be reviewed
Q108: The policies that promote and support revenue
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