When would a special revenue fund be deemed to have satisfied the eligibility requirement of a reimbursement-type federal grant, under GASB Statement 33?
A) Only as qualified expenditures are incurred.
B) Only after work is completely finished for the project.
C) When a plan for use of the funds has been developed and approved.
D) When the grant is first approved by the granting agency.
Correct Answer:
Verified
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