Which of the Following Statement Is Incorrect About Grant Programs

question 59

Multiple Choice

Which of the following statement is incorrect about grant programs?

• A) Granting agencies are very visible and well-known, so it's normally not hard to find one.
• B) The federal government has grant programs beyond the SBIR and STTR programs.
• C) Its important to avoid grant related scams.
• D) There are a limited number of organizations that offer new businesses grants.
• E) There are private foundations that grant money to both existing and startup firms.

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Definitions:

Utilities Expense

An expense incurred by a business for basic utilities, such as electricity, gas, and water, which are necessary for operations.

Fees Earned

Revenue generated from providing services.

Prepaid Insurance

Insurance costs paid for in advance, recorded as a current asset until the period the insurance coverage relates to passes.

Insurance Expense

The cost recognized in accounting for premiums paid on insurance policies.