Multiple Choice
Which of the following statements is (are) true regarding public colleges and universities choosing to report as special-purpose entities engaged in business-type activities only?
A) Endowments would be reported in the Statement of Net Assets as Net Assets Restricted-Nonexpendable.
B) Capital appropriations from state governments are shown, in the Statement of Revenues, Expenses, and Changes in Net Assets, as a category separate from revenues.
C) Both of the above.
D) Neither of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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