In the Audit of a Federal Assistance Program,a Cost That

question 22

Multiple Choice

In the audit of a federal assistance program,a cost that appears to be in violation of a law or regulation is referred to as a:

• A)Direct compliance cost.
• B)Potentially fraudulent cost.
• C)Questioned Cost.
• D)Single Audit Deviation.

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Definitions:

Optimal Order

The most efficient and cost-effective quantity of an item to order, considering factors such as demand, storage costs, and order costs.

Time-Based Strategies

Business approaches that prioritize speed and timing in operations, production, and delivery to gain competitive advantage.

Competitive Advantage

The attributes or conditions that enable a company to outperform its competitors, typically leading to greater sales or margins.

Cycle Time

The total time from the beginning to the end of a process, procedure, or activity.