Online%20Quiz%20#13

Online%20Quiz%20#13 - Online Quiz #13: Chapters 17 & 18...

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GASB Statement #35 requires that government colleges and universities engaged solely in business-type activities present: A statement of net assets. A statement of cash flows. A statement of revenues, expenses and changes in net assets. MD&A. All of the above. Government colleges and universities solely engaged in business-type activities would present the following classes of equity except: Invested in capital assets, net of related debt. Restricted fund balance. Restricted net assets. Unrestricted net assets. Scholarships to students that are being paid from grants the university received (on the students behalf) for such purposes should be reported as : Expenses in the GAAP financial statements. Scholarships to students that are being paid from the university’s own resources should be reported as: Expenses in the GAAP financial statements. For the spring semester of 20X4, Lane University assessed its students $$3,400,000 (net of refunds) of tuition & fees for educational and general purposed. However, only $3,000,000 was expected to be
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Online%20Quiz%20#13 - Online Quiz #13: Chapters 17 & 18...

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