Suppose a subrecipient has a $12,000 insurance policy that is in effect from January 1st through December 31st. They pay a $3,000 lump sum to the insurance company in January and will pay $1,000/month...

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Suppose a subrecipient has a $12,000 insurance policy that is in effect from January 1st through December 31st. They pay a $3,000 lump sum to the insurance company in January and will pay $1,000/month each month from February to October. If this expense can be claimed on a federal reimbursable grant, what amount would they report on their December reimbursement request and explain the rationale.*
Answered Same DayMay 10, 2021

Solution

Harshit answered on May 11 2021
29 Votes
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