A Concept Paper Describes the Grant Idea, Need for the Project

question 25

True/False

A Concept Paper describes the grant idea, need for the project, how it is to be implemented, but no budget is attached yet.

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Definitions:

Due Diligence

The comprehensive investigation or exercise of care that a reasonable business or person is expected to undertake before entering into an agreement or transaction.

Gross Misstatements

Significant errors or falsehoods in a financial statement or other crucial documents.

Reasonable Investigation

A diligent inquiry or examination to discover facts or gather evidence, conducted within the bounds of what is considered reasonable under the circumstances.

Sarbanes-Oxley Act

A U.S. federal law enacted to protect investors by improving the accuracy and reliability of corporate disclosures.