GAO Definition

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GAO (Government Accountability Office) is the investigative arm of the United States Congress charged with examining matters relating to the receipt and payment of public funds.

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EARNING ASSET is an asset which provides income (e,g, rental property).

PEER REVIEW, in accounting, is a practice monitoring program in which the audit documentation of one CPA firm is periodically reviewed by independent partners of other firms to determine that it conforms to the standards of the profession.

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