In Order for a Government to Have a Program-Specific Audit

question 40

Multiple Choice

In order for a government to have a program-specific audit, which of the following must be met?

• A) Expend less than $750,000 of federal awards.
• B) Expend federal awards under only one federal program.
• C) Have low-risk programs.
• D) Have a combination of high-risk and low-risk programs.

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Definitions:

Health Insurance

Insurance covering the costs of medical and surgical procedures, medications, and sometimes dental expenses for the insured, functioning similarly to healthcare insurance.

Employer

An individual or organization that hires workers to perform services in exchange for compensation.

Taxable

Refers to income or transactions subject to taxation by governmental authorities.

Tax Deductible

Expenses that can be subtracted from gross income to reduce taxable income.