With Respect to Reimbursement Grant Accounting, Which of the Following

Multiple Choice

With respect to reimbursement grant accounting, which of the following statements is true?

A) Under GASB, revenues are recorded when monies are received from the granting government.
B) Under GASB, revenues are recorded at the same time that expenditures are incurred.
C) Under GASB, excess cash at the end of the project must be returned to the granting government.
D) Under GASB, the granting government makes an initial payment to the receiving government and then makes reimbursement payments thereafter.