Acct 410 Government and Not for Profit Chp 11-15 Quiz Essay

research 14 off of 4 points Federal bills must be used only for activities that are within the scope of the grant would be a(n) fare Selected execute permissible activityCorrect Answer allowable activity brain 20 out of 4 points In reporting the results of a performance audit, it is appropriate for the auditors toAnswer Correct Answer all of the above. Question 34 out of 4 points Which of the following is a discolor Book standard in respect to independence?Answer Selected Answer auditors should not audit their own work Correct Answer auditors should not audit their own work Question 44 out of 4 points The Yellow Books general standards are issued by theAnswer Selected Answer GAOCorrect Answer GAO Question 54 out of 4 points In recognise the objectives of a program to be audited, the auditorsshould give the least credibility toAnswer Selected Answer comments by the lower-level employees who actually depend on the program for their liveliho ods. Correct Answer comments by the lower-level employees who actually depend on the program for their livelihoods. Question 64 out of 4 points Which of the following is not reported upon in the Schedule of Findings and Questioned be?Answer Selected Answer reportable conditions related to internal control Correct Answer reportable conditions related to internal control Question 70 out of 4 points Government analyseing Standards characterizes government engagements into which of the following three categories?Answer Correct Answer pecuniary audits, compliance audits, and performance audits Question 84 out of 4 points The process of specifically directing federal funds to a particular program is calledAnswer Selected Answer earmarkingCorrect Answer earmarking Question 94 out of 4 points Government Auditing Standards must be adhered to in all financial auditsexcept ofAnswer Selected Answer public corporationsCorrect Answer public corporations Quest ion 100 out of 4 points The purpose of this is to avoid duplication of efforts in conducting governmental auditsAnswer Correct Answer Single Audit Act Question 114 out of 4 points This law requires that the wages of laborers and mechanics employed by the contractors of federally funded projects be paid at prevailing local wage rates.Answer Selected Answer Davis-Bacon ActCorrect Answer Davis-Bacon Act Question 124 out of 4 points Which of the following statements is ridiculous about GAO standards pertaining to performance audits?Answer Selected Answer The GAO mandates that programs be audited annually by story trained professionals Correct Answer The GAO mandates that programs be audited annually by accounting trained professionals Question 134 out of 4 points Which of the following is not a General Auditing Standard for financial audits?Answer Selected Answer financial stabilityCorrect Answer financial stability Question 144 out of 4 points Per th e GAO standards, an auditors working papers mustAnswer Selected Answer train sufficient information to convince an auditor having no previous connection with the audit that the evidence supports the auditors conclusions and judgments Correct Answer contain sufficient information to convince an auditor having no previous connection with the audit that the evidence supports the auditors conclusions and judgments Question 150 out of 4 points Generally accepted government auditing standards (GAGAS) refers to standards incorporated inAnswer Correct Answer the Yellow Book and the AICPAs Professional Standards Sunday, June 17, 2012 64352 PM EDT