In Order to Account Properly to Federal and Nonfederal Grantors,an

question 27

Multiple Choice

In order to account properly to federal and nonfederal grantors,an accounting information system must be able to capture information about all of the following except

• A)Program or functional expenses.
• B)Effectiveness level.
• C)Granting agency or sponsor required financial information.
• D)Line-item expenses.

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Definitions:

Capital

Wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing.

Securities

Financial instruments that represent an ownership position in a corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Shareholders' Best Interest

The principle that company management should operate in a way that enhances the value received by shareholders.

Proxy Fights

A strategy utilized by shareholders to influence a corporation's management and policies by attempting to vote in favor of their own proposals.