Which of the Following Is True Regarding Accounting and Financial

Multiple Choice

Which of the following is true regarding accounting and financial reporting for private colleges and universities?

A) Expenses may be unrestricted or temporarily restricted depending on donor intent.
B) The Statement of Cash Flows must use the direct method.
C) A Statement of Unrestricted Revenues, Expenses and Other Changes in Unrestricted Net Assets and a Statement of Changes in Net Assets may be presented instead of a Statement of Activities.
D) None of the above are true.