Which of the Following Would Be True Regarding the Statement

Multiple Choice

Which of the following would be true regarding the Statement of Net Assets for a public college reporting as a special purpose entity engaged in business type activities only?

A) A classified statement is required, separating current and long-term assets and liabilities.
B) The two net asset categories are restricted and unrestricted.
C) Both of the above are true.
D) Neither of the above is true.