Multiple Choice
Which of the following is true regarding the Single Audit Act and its amendments?
A) All governmental entities with expenditures of federal funds in excess of $500,000 must have a single audit, if more than one program exists
B) An audit must be designed to cover 50 percent of federal funds expended, in all cases
C) Both of the above
D) Neither of the above
Correct Answer:
Verified
Correct Answer:
Verified
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