Which of the following statements concerning the identification ...

[mpobi80]

Which of the following statements concerning the identification of a Type A low-risk program is true?
 
  A. A Type A program can be considered low-risk if it has been audited as a major program in one of the last two years, and the current year had no reportable audit findings.
  B. A Type A program is low-risk if it was audited as a major program last year, whether or not there were any reportable audit findings.
  C. A Type A program is low-risk if there were no audit findings within the last two years.
  D. A Type A program can never be classified as low-risk.

Question 2

General obligation bonds were issued to finance a particular governmental capital project fund. This resource, in the context of its impact on fund balance, would be classified as
 
  A. A nonspendable resource.
  B. A restricted resource.
  C. A committed resource.
  D. An assigned resource.

[tofugiraffe]

Answer to Question 1

A

Answer to Question 2

B

[mpobi80]

TYSM

[dawsa925]

Excellent