Final Jeopardy
100

In determining materiality under the Single Audit Act, which of the following would be considered major programs?

  1. A low-risk program that expends $1,000,000 per year in federal financial assistance
  2. A high-risk program that expends $760,000 per year in federal financial assistance
  3. A low-risk program that expends $500,000 per year in federal financial assistance
  4. A high-risk program that expends $250,000 per year in federal financial assistance

A) 1 and 2 only

B) 2 and 4 only

C) 1, 2, and 4 only

D) 1, 2, 3, and 4

C) 1, 2, and 4 only

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