Author Question: A government that is subject to a single audit a. Is by definition not a low-risk auditee. b. ... (Read 43 times)

natalie2426 · **on:** Jul 5, 2018

A government that is subject to a single audit

a. Is by definition not a low-risk auditee.
b. Can not be treated as a low-risk auditee in two consecutive years.
c. Can not be treated as a low-risk auditee in more than two consecutive years.
d. May be treated as a low-risk auditee for an unlimited number of consecutive years.

Question 2

The methods and procedures for collecting, classifying, summarizing, and reporting a business's financial andoperating information are called the accounting system.
a. True
b. False

Indicate whether the statement is true or false