With Respect to Public Colleges, Which of the Following Is

Multiple Choice

With respect to public colleges, which of the following is not correct?

A) GASB requires public colleges to report long-term debt on the Statement of Net Position, to accrue interest and amortize debt discount and premium.
B) GASB requires public colleges to report capital assets on the Statement of Net Position, to expense depreciation and to record gains or losses on disposals of capital assets.
C) Cash received under Pell Grants is treated as held for the student in an agency relationship with offsetting asset and liability balances.
D) All of the above are correct