Reports to the OMB 46, Which of the following would be sabject to the Single Aud Ac? An rntzatin Receives grants for federal assistance from 3 a b) Spends $800,000 from a federal assistance grant from c) Spends 5400,000 from federal assistance grants from 4 fedoral agens d) Spends 5800,000 from federal assistance grants from federal agencses 47. Circular A-133, issued by the Office of Management and Budgst a) Applies only to state and local governmental units b) Applies only to not-for-proft organizations c) Applies to both. d) Applies to neither 48. Which asset does not appear on the Whitney Museum 6/30/17 Statement of Financial Position: a) Investments b) Capital Assets c) Art Collections d) Pledges receivable 49. Performance audits are most commonly carried out by: a.) Internal auditors b.) GAO auditors c.) Independent CPAs d.) OMB personnel 50. The U.S. Governments Net Position (Assets minus Liabilities) is approximately a) $3 trillion deficit b) $12 trillion deficit "c) $21 trillion deficit d) $26 trillion deficit 51. Which of the following is not a required report of the Single Audit Act? a) Schedule of Findings and Questioned Costs c) Report on Compliance and on Internal Control over Financial Reporting d) Report on Compliance with Requirements of Major Programs b) Report on the Performance Audit