Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
derro derro
wrote...
Posts: 866
Rep: 6 0
5 years ago
A local government received and expended the following federal financial assistance under several programs during 20X4:

Program A   $100,000
Program B   200,000
Program C   650,000
Program D   875,000
Program E   1,025,000
Program F   900,000
Program G     1,000,000
   Total   $4,750,000

Requirements:

A.   Is this government required to have a single audit? Why?
B.   If a single audit is performed on the government, what are its Type A programs?
C.   Assume that the two largest Type A programs that you identified in Part B of this question were audited as major federal financial assistance programs in one of the past two years and that the audits uncovered no findings or questioned costs. Further assume that each of the Type B programs could reasonably be assessed as high-risk programs. Which programs should be audited as major programs? Why?
Textbook 
Governmental and Nonprofit Accounting

Governmental and Nonprofit Accounting


Edition: 11th
Authors:
Read 48 times
1 Reply
Replies
Answer verified by a subject expert
bolbolbolbol
wrote...
Staff Member
Top Poster
Posts: 3162
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 200 words.
1

Related Topics

derro Author
wrote...

5 years ago
You make an excellent tutor!
wrote...

Yesterday
Smart ... Thanks!
wrote...

2 hours ago
Thanks
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  985 People Browsing
Related Images
  
 141
  
 327
  
 277
Your Opinion
What's your favorite math subject?
Votes: 293