Gov't Auditing Final Jeopardy

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