Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 63

Which of the following is most likely to be true about the financial reporting of a public college or university
a.It resembles the financial reporting of private colleges and universities.
b.It will continue to use its own unique style of financial reporting.
c.It resembles the financial reporting made by a proprietary fund within the fund financial statements for a state or local government.
d.It will soon be reported using a financial statement format unique to the needs of public colleges and universities that GASB is scheduled to create.