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State and Local Governments and Not-For-Profit Organizations That Receive Grants

Question 42

Multiple Choice

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 cost circulars.
C) Financial Accounting Standards Board standards.
D) Governmental Accounting Standards Board standards.

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