Which of the Following Is True Regarding the Single Audit

question 16

Multiple Choice

Which of the following is true regarding the Single Audit Act and its amendments?

• A) Governments and not-for-profit organizations that exceed $50 million in federal awards are normally assigned a cognizant agency to provide guidance.
• B) Smaller governments report to oversight agencies; typically the agency providing more funding than any other agency.
• C) Both A and B above.
• D) Neither A nor B above.

---

Definitions:

Hornfels

A fine-grained, nonfoliated metamorphic rock, typically formed by contact metamorphism of nearly any kind of starting rock.

Igneous Intrusion

The process and resultant feature where magma cuts through pre-existing rock layers, cooling and solidifying underground.

Anticline

A geological feature characterized by a convex fold in rock layers that arches upward, often associated with oil reserves.

Syncline

A geological fold with layers that dip inward from both sides towards the central axis, typically forming a trough.