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Business & FinanceRegulationsmedium15% of exam part

The Perry compliance audit expects 52 required records and finds 52 retained. What status should be reported?

Correct Answer

C) record set complete

A compliance audit should identify whether required statutory and regulatory records are present.

Answer Options
A
lien period expired
B
tax rate changed
C
record set complete
D
qualifier removed

Why This Is the Correct Answer

A compliance audit should identify whether required statutory and regulatory records are present.

Why the Other Options Are Wrong

Option A: lien period expired

lien period expired belongs to a different file or record trail; it does not prove the regulatory recordkeeping event.

Option B: tax rate changed

tax rate changed belongs to a different file or record trail; it does not prove the regulatory recordkeeping event.

Option D: qualifier removed

qualifier removed belongs to a different file or record trail; it does not prove the regulatory recordkeeping event.

Memory Technique

Regulatory Recordkeeping proof for Office Manager: event, approval, receipt, follow-up.

Reference Hint

Open-book path: tab Contractor's Manual, 2025 to Contractor's Manual, Regulatory recordkeeping and compliance audit files; confirm the Florida statutory or Department of Revenue rule before answering.

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