Which of the Following Statements Concerning the Single Audit Act

question 12

Multiple Choice

Which of the following statements concerning the Single Audit Act of 1984 (with 1996 Amendments) is correct?

• A) Only those entities receiving over $750,000 a year in federal financial assistance are required to have a single audit.
• B) Those entities expending under $750,000 a year in federal awards may be exempt from single audit requirements.
• C) The Single Audit Act only applies if an entity has high risk programs.
• D) The single audit is optional for all entities receiving federal awards.

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Definitions:

Photosynthesis

The biochemical process in which green plants and some bacteria convert light energy and carbon dioxide into glucose and oxygen.

Cellular Respiration

The metabolic process by which cells produce energy (in the form of ATP) from glucose and oxygen, releasing carbon dioxide and water as byproducts.

RuBP Carboxylase

An enzyme that catalyzes the first major step of carbon fixation in the process of photosynthesis, binding carbon dioxide to ribulose bisphosphate (RuBP).

Bundle Sheath Cells

Specialized cells in plant leaves that form a sheath around the vascular bundles, playing a crucial role in the process of photosynthesis.