Which of the Following Is True with Respect to Public

Multiple Choice

Which of the following is true with respect to public four-year higher education institutions (public colleges) ?

A) Sometimes, but not always public colleges are included as component units in the state CAFR.
B) Revenue sources for public colleges include tuition and fees, state appropriations and donations. All other income is reported as unrelated business income.
C) Public colleges do not have the power to issue debt; it must be issued by the state as general obligation debt.
D) Public colleges may not choose to report as special-purpose entities engaged only in business-type activities.