Multiple Choice
Which of the following is not one of the criteria for an allowable cost under a federal grant?
A) A cost that is necessary and reasonable for the performance of the federal award and allocable thereto under the OMB cost principles.
B) A cost that conforms to any limitations or exclusions set forth in the OMB cost principles or in the federal award as to types or amount of cost items.
C) A cost that has been approved by the FASB or GASB as an allowable cost.
D) A cost that is adequately documented.
Correct Answer:
Verified
Correct Answer:
Verified
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