A state government receives a grant from the federal government that it disburses to local governments within the state. The state government disburses the cash received from the federal government to the local government, but the state government has no other administrative responsibilities regarding the grant. The state government should report the grant in: Select one: a. A Special Revenue Fund b. A Custodial Fund c. An Internal Service Fund d. The General Fund

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

Corrective action must be taken for a project when (a) actual progress to the planned progress shows the progress is ahead of schedule. (b) the technical specifications have been met. (c) the actual cost of the activities is less than the funds received for the work completed. (d) the actual progress is less than the planned progress.