For governments that expend less than 3 million of federal awards ...

[xroflmao]

For governments that expend less than 3 million of federal awards during a year, each federal program under which it expended 300,000 or more is treated as a major federal program
 
  a. Always.
  b. If it is a high risk Type B program.
  c. If it has not been audited as a major program in either of the two previous years.
  d. Only if needed to meet the 50 test.

Question 2

On March 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the work sheet would
 a. increase a liability account
  b. decrease an asset account
  c. decrease a revenue account
  d. decrease a liability account

[Melissahxx]

Answer to Question 1

C

Answer to Question 2

d

[xroflmao]

Excellent

[isabelt_18]

TYSM