Which of the following statements regarding costs under federal awards is not true?
Only items of cost specifically mentioned in a grant, contract, or other agreement document are allowable.
Several costs are allowable under highly restrictive conditions and generally require the explicit approval of the grantor agency.
For major not-for-profit organizations and institutions of higher learning, indirect costs must be classified within two broad categories termed “facilities” and “administration.”
Direct costs are those that can be identified specifically with a particular cost objective.