Which of the Following Is True Regarding the Single Audit

question 160

Multiple Choice

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

• A) Major programs selected for audit must equal 50 percent or more of federal expenditures, unless the organization is deemed to be low risk.
• B) Separate reports are filed with every federal agency from which the audited organization receives funds.
• C) Both A and B above.
• D) Neither A nor B above.

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Definitions:

IQ

Short for Intelligence Quotient, a measure of a person's cognitive abilities in relation to their age group.

Sociohistorical Context

Refers to the combination of social and historical factors that influence and shape behaviors, events, and perceptions.

Psychology

The scientific study of the mind and behavior, including understanding mental functions, brain activities, and individual and social behaviors.

Political Implications

The consequences or effects that a certain policy, event, or decision might have on the political landscape.