Federal Grants Are Always Paid on a Reimbursement System, Meaning

question 30

True/False

Federal grants are always paid on a reimbursement system, meaning that the nonprofit must pay for the provision of services and then file for the reimbursement.

---

Definitions:

Note Payable

A financial obligation or loan documented by a written promissory note specifying repayment terms.

Interest-Bearing Note

A debt instrument or loan that accrues interest over time, which the borrower is required to pay.

Note Payable

A written promise to pay a specific sum of money to a creditor at a future date, often including interest payments.

Discount

A reduction in the price of goods or services, typically offered to stimulate sales or to reward customer loyalty.