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Author Question: For governments that expend less than 3 million of federal awards during a year, each federal ... (Read 109 times)

xroflmao

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on: Jul 5, 2018
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


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Melissahxx

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

d


xroflmao

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

dantucker

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Reply 3 on: Yesterday
Gracias!

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