Which of the Following Is True Regarding the Single Audit

question 144

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, in all cases.
• B) Separate reports are filed with every federal agency from which the audited organization receives funds.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Represent Another

A phrase that suggests acting on behalf of or symbolizing someone or something else.

Reversibility

The cognitive ability to recognize that numbers or objects can be changed and then returned back to their original condition.

Nonstage Theory

A theory suggesting that development or cognition does not progress through fixed stages, but rather continuously.

Heuristics

Simple, efficient rules, learned or hard-wired by evolutionary processes, that help in making decisions, forming judgments, or solving problems.