Which of the following is an objective of the Single Audit Act?
A) The financial statements of the entity are not affected by immaterial errors or misstatements.
B) The entity has not committed fraud.
C) The entity has in place a system of internal control sufficient to ensure that financial statements are prepared in accordance with generally accepted accounting principles.
D) The entity is satisfying the laws, regulations, and provisions that apply to each specific federal award.
Correct Answer:
Verified
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