Over the Years, Four Alternatives Have Been Suggested for Constructing

Multiple Choice

Over the years, four alternatives have been suggested for constructing the financial statements for public colleges and universities. These alternatives include all of the following except:

A) Adopt FASB's requirements so that all colleges and universities (public and private) prepare comparable financial statements.
B) Apply a more traditional model focusing on fund financial statements and the wide variety of funds that such schools often have to maintain.
C) Create an entirely new set of financial statements designed specifically to meet the unique needs of public colleges and universities.
D) Adopt the requirements issued by the Private Company Council (PCC) of the FASB.
E) Adopt the same reporting model for public schools that has been created for state and local governments.