Which of the Following Statements Regarding Costs Under Federal Awards

question 46

Multiple Choice

Which of the following statements regarding costs under federal awards is not ?

• A) Only items of cost specifically mentioned in a grant, contract, or other agreement document are allowable.
• B) Several costs are allowable under highly restrictive conditions and generally require the explicit approval of the grantor agency.
• C) For major not-for-profit organizations and institutions of higher learning, indirect costs must be classified within two broad categories termed "facilities" and "administration."
• D) Direct costs are those that can be identified specifically with a particular cost objective.

Understand the concept and importance of selective permeability in the loop of Henle for water reabsorption in the kidney.

Describe how the habitat of marine and freshwater bony fishes influences their urine production.

Differentiate between hemodialysis and peritoneal dialysis in terms of procedure, advantages, and limitations.

Identify the organs involved in digestion and absorption.

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Definitions:

Federal Income Tax

The United States federal government imposes a financial charge on the yearly revenues of individuals, corporations, trusts, and other legal entities.

Marginal Tax Rate

The tax rate that applies to the next additional increment of a taxpayer's taxable income.

Taxable Income

The portion of an individual's or a corporation's income that is subject to taxation by the government.

Marginal Tax Rate

The rate of tax applied to the last dollar of income or the next dollar of taxable income earned.