State and local governments and not-for-profit organizations that receive grants or contracts from the federal government should charge costs of these grants or contracts in conformity with: a) Cost Accounting Standards Board standards. b) Office of Management and Budget circulars. c) Financial Accounting Standards Board standards. d) Governmental Accounting Standards Board standards.
State and local governments and not-for-profit organizations that receive grants or contracts from the federal government should charge costs of these grants or contracts in conformity with: a) Cost Accounting Standards Board standards. b) Office of Management and Budget circulars. c) Financial Accounting Standards Board standards. d) Governmental Accounting Standards Board standards.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:State and local governments and not-for-profit organizations that receive grants or
contracts from the federal government should charge costs of these grants or
contracts in conformity with:
a) Cost Accounting Standards Board standards.
b) Office of Management and Budget circulars.
c) Financial Accounting Standards Board standards.
d) Governmental Accounting Standards Board standards.
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