Which of the Following Is True Regarding the Statement of Revenues,Expenses,and

Multiple Choice

Which of the following is true regarding the Statement of Revenues,Expenses,and Changes in Net Assets for a public college?

A) Tuition revenues are reported net of tuition waivers only when those waivers do not require service on the part of the recipient student.
B) Depreciation expense is not recognized.
C) Both of the above are true.
D) Neither of the above is true.