Which of the Following Statements Concerning the Audits of Colleges

question 46

Multiple Choice

Which of the following statements concerning the audits of colleges and universities is ?

• A) Both public and private colleges and universities are subject to the provisions of the single audit if they expend over $750,000 in federal funds in a fiscal year.
• B) The nongovernmental nature of public colleges and universities means they are exempt from the requirements of the single audit, but they are required to have an audit conducted under generally accepted auditing standards.
• C) Public colleges and universities are exempt from the requirements of the single audit, but they are required to follow the Uniform Guidance to ensure only allowable costs are charged to federal grants.
• D) Both public and private colleges and universities are exempt from the requirements of the single audit, but they are both required to follow the Uniform Guidance to ensure only allowable costs are charged to federal grants.

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Definitions:

Panic

A sudden sensation of fear which is so severe that it can dominate or prevent reason and logical thinking, replacing it with overwhelming feelings of anxiety and frantic agitation consistent with fight-or-flight response.

Socially Withdrawn

A state where an individual pulls back from social interactions and activities, often as a response to stress, depression, or anxiety.

Nursing Diagnoses

Clinical judgments about individual, family, or community experiences/responses to actual or potential health problems/life processes which provide the basis for selecting nursing interventions.

Hoards

Accumulates items in a compulsive manner, often leading to cluttered living spaces that can affect the well-being of the individual.