Which of the Following Is Not True Regarding the Single

question 32

Multiple Choice

Which of the following is not 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) The auditor is not required to test internal controls to gain an understanding of internal controls for use in selecting programs for audit.
• D) All of the above are true.

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Definitions:

Lightning Strike

A natural electrical discharge of very short duration and high voltage between a cloud and the ground or within a cloud.

Sunburn

A form of skin damage that results from excessive exposure to ultraviolet radiation, causing redness, pain, and sometimes blisters.

Boiling Water

The process of heating water until it reaches a temperature at which it bubbles and turns to vapor.

Steam

Water vapor generated by boiling water, used for heating, propulsion, and sterilization among other applications.