Multiple Choice
Which of the following statements is true regarding accounting and financial reporting for public colleges and universities?
A) Public colleges and universities may choose to report in the same manner as private colleges and universities, using FASB standards.
B) Public colleges and universities may choose to report as special-purpose entities engaged in both governmental and business-type activities.
C) Both of the above.
D) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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