Grant Programs in Which State and Local Governments Submit Proposals

question 61

Multiple Choice

Grant programs in which state and local governments submit proposals to federal agencies and for which funding is provided on a competitive basis are known as ____________ grants.

• A) contest
• B) formula
• C) project
• D) competitive block

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Definitions:

Accrued Interest

The interest that has accumulated on a bond or loan but has not yet been paid to the lender, often recorded as a current liability on the balance sheet.

Accrued Interest

Interest that has been earned but not yet received or recorded as income by the company.

Face Value

The nominal or dollar value printed on a bond, note, or other financial instrument.

Bond Sinking Fund

A fund set aside by a corporation to repay bonds at maturity, ensuring the security of the bondholders' investment.