Which of the following is not true regarding the Statement of Revenues Expenses

Which of the following is not true regarding the

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19.Which of the following is nottrue regarding the Statement of Revenues, Expenses and Changes in Net Position for a public college reporting as a special purpose entity engaged in business type activities only? A)The accrual basis of accounting is used to measure revenues and expenses. B)Encumbrances are recorded at the time purchase orders are issued. C)Depreciation expense is recorded. D)All of the above are true. Answer: B 20.A public college had tuition and fees of $21,000,000. Scholarships, for which no services were required, amounted to $2,500,000. Graduate assistantships, for which services were required, amounted to $1,600,000. The amount to be reported by the public college as net tuition and fees would be:
21.Which of the following would be true regarding the Statement of Net Position for a public college reporting as a special purpose entity engaged in business type activitiesonly? 22.Which of the following is nottrue regarding the Statement of Revenues, Expenses, and Changes in Net Position for a public college? 23.Which of the following is true regarding the Statement of Revenues, Expenses, and Changes in Net Position for a public college, operating as a special-purpose entity engaged only in business-type activities? A)Student scholarship allowances should be reported as operating expenses as long as no services are provided. B)Expenses are recorded when incurred. C)Depreciation expense is not recorded. D)None of the above. Answer: B 24.Which of the following is nottrue regarding the Statement of Revenues, Expenses, and Changes in Net Position for a public college, operating as a special-purpose entityengaged only in business-type activities?

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