Governments receiving federal grants and contract funds are expected to have an accounting information system with adequate internal controls that can deliver reliable information to compare the actual amount spent with budgeted amounts.

Question

Quizplus · Accepted Answer

This statement is true as part of the requirements for receiving federal grants and contract funds from the government is having an accounting information system with adequate internal controls to ensure proper management of the funds and transparency in accounting for them.

Governments Receiving Federal Grants and Contract Funds Are Expected to Have