State and Local Governments and Not-For-Profit Organizations That Receive Grants

question 42

Multiple Choice

State and local governments and not-for-profit organizations that receive grants or contracts from the federal government should charge costs of these grants or contracts in conformity with

• A) Cost Accounting Standards Board standards.
• B) Office of Management and Budget cost circulars.
• C) Financial Accounting Standards Board standards.
• D) Governmental Accounting Standards Board standards.

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Definitions:

Functionalists

Functionalists focus on how society's parts are structured to maintain its stability, with each part contributing to society's overall function and health.

Class Differences

Variations in social standing, wealth, education, and power among different social groups, often leading to inequality.

Fashion Trends

The prevailing styles and preferences in clothing, accessories, and overall appearance at a particular time, often influenced by cultural and social factors.

Postindustrial Revolution

The phase following the Industrial Revolution, characterized by a shift from manufacturing-based economies to service-oriented and information-based ones.