Which one of the following best describes the conditions under which only P-40 a

Question

Which one of the following best describes the conditions under which only P-40 and P-40a budget exhibits are required to be submitted? Answers are: 1. When the P-1 Line item for which a budget request of less than $7 million is reflected in the budget year, but greater than $7 million in the current year, and the prior year of the P-1 Exhibit. 2. When the P-1 Line item for which a budget request of less than $10 million is reflected in the budget year, the current year, and the prior year of the P-1 Exhibit. 3. When the P-1 Line item for which a budget request of less than $5 million.

Explanation / Answer

When the P-1 Line item for which a budget request of less than $10 million is reflected in the budget year, the current year, and the prior year of the P-1 Exhibit.

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