BCIS Chapter 11 Quiz (100/100) Which of the five forces in Michael Porter's model refers to entry barriers and the relative threat of new competitors? Group of answer choices Suppliers Rivalry among existing firms Potential entrants Buyers Which of the following steps is the first step in goals-based strategic planning? Group of answer choices Analyze situation Define strategies Deploy plan Set direction The organization's _____ is stated in a challenging manner to inspire employees, customers, and shareholders. Group of answer choices goals objective mission statement vision statement A core _____ is the widely accepted principle that guides how employees behave and make decisions in the organization. Group of answer choices strategy objective You are hereEvery sponsored project has both Direct and Indirect Costs. The direct costs are those that can be specifically and easily identified with a particular project or activity and are allowable under the sponsoring organizations guidelines. Indirect costs, according to the federal Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards issued by the Office of Management and Budget (Uniform Guidance), are those costs that are incurred for common or joint objectives, and cannot be easily and specifically identified with a particular sponsored project, an instructional activity, or any institutional activity. These costs are also sometimes called “facilities and administrative costs (F&A)” or “overhead.” The terms indirect costs, overhead costs, and F&A costs are synonymous. These indirect costs are different than direct costs. University indirect costs include building and equipment depreciation and use allowance; general administration; departmental, sponsored program, and sponsored project administration expenses; interest; operation and maintenance expenses; library expenses; and student administration and services expense. Most federal agencies and other sponsoring organizations pay the university for indirect costs in addition to the direct costs of a grant or contract award. Thus, indirect costs are the related costs of using the University's facilities and administrative support that cannot be claimed as direct costs. Indirect costs are not profit; instead they are part of the real costs of conducting the outside funded R&D. By collecting indirect costs from sponsors, UL Lafayette is recovering those expenses. The federal government has established what costs may be charged as direct costs and what costs are considered included in indirect costs. The following summary gives a brief description of costs and whether they should be charged as direct or whether they are included in the indirect cost calculations. This list is only a summary; a comprehensive list can be found at the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards issued by the Office of Management and Budget.
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