Which of the Following Is Not a Required Component of the Audit

question 10

Multiple Choice

Which of the following is not a required component of the audit report for a single audit?

• A) A report on internal control over financial reporting and compliance with federal statutes, regulations, and the terms and conditions of the federal award.
• B) An opinion on the completeness of the schedule of expenditures.
• C) A report on compliance for each major program and on internal control over compliance.
• D) A schedule of findings and questioned costs.

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Definitions:

Shareholders

Shareholders are individuals or entities that own one or more shares of stock in a corporation, making them partial owners of the company.

Model Nonprofit Corporation Act (MNCA)

A legal framework designed to guide the formation, operation, and governance of nonprofit organizations in the United States.

Absolute Right

A fundamental privilege that cannot be infringed upon or restricted under any circumstances by other entities, including the government.

Inspect And Copy

The right to examine and duplicate documents, records, or physical items.