IIA Exam IIA-CGAP Topic 5 Question 72 Discussion

Actual exam question for IIA's Certified Government Auditing Professional exam

Question #: 72
Topic #: 5

[All Certified Government Auditing Professional Questions]

Grants are used by governments to operate programs and provide services. Common types of grant classifications include the following given below please choose the correct option:

AFormula grants --- legally mandated funding levels and restrictions on eligible grantees, with little or no discretion being exercised by the grantor.

BProject grants --- Similar to contracts because grantors agree to pay the grantee for services, performance, or a specific project.

CConstruction grants --- Awarded only for construction of permanent facilities.

DAll of the above.

ENone of the above.

Show Suggested Answer

Suggested Answer: D

by Ligia at Mar 09, 2024, 07:54 PM

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Vicky

2 days ago

I think the answer is D) All of the above because all three types of grants are commonly used by governments.

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