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In 2 0 X 0 , a government university was awarded a federal reimbursement grant of $ 9 million to carry out research. Of this,
In X a government university was awarded a federal reimbursement grant of $ million to carry out research. Of this, $ million was intended to cover direct costs and $ million to cover overhead. In a particular year, the university incurred $ million in allowable direct costs and received $ million from the federal government. It expected to incur the remaining costs and collect the remaining balance in X For X it should recognize revenues from the grant of
a $ million.
b $ million.
c $ million.
d $ million.
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