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.
C) Both A and B are true.
D) Neither A nor B is true.
Correct Answer:
Verified
Correct Answer:
Verified
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