Cactus College, a Small Private College, Received a Research Grant

Multiple Choice

Cactus College, a small private college, received a research grant from NACUBO to study whether service efforts and accomplishments measures improve institutional performance. In accordance with FASB standards the grant would be reported as an increase in:

A) Net assets without donor restrictions.
B) Net assets with donor restrictions.
C) Deferred revenue.
D) Board-designated net assets.