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 (government-owned) college?

A) The modified accrual basis of accounting is used to determine the net increase or decrease in net assets.
B) Auxiliary enterprise activities represent revenues and expenses related to units of the college that provide services to students on a user fee basis.
C) Both of the above are true.
D) Neither of the above is true.