Which of the Following Statements Concerning the Single Audit Act

question 46

Multiple Choice

Which of the following statements concerning the Single Audit Act of 1984 (with 1996 amendments) is correct?

• A) Only those entities receiving over $750,000 a year in federal financial assistance are required to have a single audit.
• B) Those entities expending under $750,000 a year in federal awards may be exempt from single audit requirements.
• C) The Single Audit Act only applies if an entity has high risk programs.
• D) The single audit is optional for all entities receiving federal awards.

---

Definitions:

Socioeconomic Status

The social standing or class of an individual or group, often measured by education, income, and occupation.

Single-parent Families

households with one parent who is responsible for raising children without the involvement of the other biological parent.

Developmental Problems

Difficulties in physical, emotional, cognitive, or social growth that may affect a person's ability to achieve typical developmental milestones.

Permissive

Characterized by a lenient or liberal attitude, allowing or tolerating behaviors that others might restrict.