Author Question: Net income appears on the end-of-period spreadsheet in the a. debit column of the Balance Sheet ... (Read 97 times)

sheilaspns · **on:** Jul 5, 2018

Net income appears on the end-of-period spreadsheet in the
a. debit column of the Balance Sheet columns
b. debit column of the Adjustments columns
c. debit column of the Income Statement columns
d. credit column of the Income Statement columns

Question 2

Assume that programs classified as major federal programs totaled 4,500,000 . If the auditee is considered low-risk, the percentage of coverage rule would be satisfied if the total federal awards expended were no more than

a. 4,500,000
b. 6,000,000
c. 9,000,000
d. 12,000,000
e. 18,000,000