To Qualify for an SBIR Grant Applicants Must

question 21

Multiple Choice

To qualify for an SBIR grant applicants must:

• A) Have been in business for more than 5 years.
• B) Have been in business for less than 5 years.
• C) Have less than 500 employees.
• D) Have more than 500 employees.

---

Definitions:

Accounts Payable

Short-term liabilities or obligations to suppliers or creditors for goods and services received but not yet paid for.

T Account

A T account is a visual aid in accounting used to depict the debits and credits of a particular ledger account, facilitating the understanding and analysis of transactions.

Balance Entered

A term that is not typically used in standard financial or accounting lexicon; it could imply recording or entering a balance into financial records. NO.

Trial Balance Preparation

The process of creating a trial balance, which is a bookkeeping worksheet listing the balance of all ledgers for checking the mathematical correctness of the books.