Accounting for Governmental & Nonprofit Entities
Accounting for Governmental & Nonprofit Entities
17th Edition
ISBN: 9780078025822
Author: Jacqueline L. Reck James E. Rooks Distinguished Professor, Suzanne Lowensohn, Earl R Wilson
Publisher: McGraw-Hill Education
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Chapter 11, Problem 19.8EP
To determine

Find the correct option, the option that indicates the programs that must be audited by the auditor as the major programs.

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Pittman City was required to have a single audit due to its spending of a large amount of Federal grant funds. The auditor determined that three of the grants would be classified as "High Risk A" and eight would be "Low Risk A". How many "High Risk B" grants will the auditor now select? A 1 B 2 C) 3 D 4
Long-term debt is substantial in amount and often extend for periods of 20 years or more. True/ False   The Single Audit Act is a statutory requirement to test controls over compliance and compliance with program requirements. True/ False   A major control procedure related to plant and equipment is a budget for acquisitions and disposition. True/ False
23. Which of the following types of audits is designed to determine that an organization has complied with the specific requirements of major financial assistance programs? Group of answer choices   An audit in accordance with Government Auditing Standards.   A single audit.   An audit in accordance with generally accepted auditing standards.   An operational audit.
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