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The GAO Has the Authority to Issue Standards Pertaining to Audits

question 10

True/False

The GAO has the authority to issue standards pertaining to audits of governmental organizations and other entities that receive federal assistance.


Definitions:

Cutoff Hour

A specified deadline by which a certain action must be taken or completed.

UCC

The Uniform Commercial Code is an extensive compilation of laws that regulate commercial transactions throughout the United States.

Checks

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or to a specified person.

Compliance

Adhering to rules, standards, or laws, or the act of following orders, guidelines, or requests from others.

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