In what part of the GASB Codification could a researcher find the Inventory topic (I40)? Select one: a. Stand-Alone Reporting: Specialized Units and Activities b. Financial Reporting c. Measurement d. General Principles e. Specific Balance Sheet and Operating Statement Items

In what level of the FASAB Hierarchy would the following guidance fall: SFFAS 5, Accounting for Liabilities of The Federal Government?

Select one:

a. Level 1

b. Level b

c. Level a

d. Level d

e. Level c

f. Level 2

Entities receiving federal funding in excess of $750,000 are required to undergo a single audit. This is a(n)

financial statement plus a program (aka, performance) audit.

financial statement audit only.

performance audit.

controls audit.