Most public colleges and universities choose to report as special purpose entities engaged in only business-type activities.

Question

Quizplus · Accepted Answer

This statement is true. Many public colleges and universities report as special purpose entities engaged in only business-type activities in their financial statements. This is because they operate certain auxiliary services such as housing, dining, and bookstore sales that generate revenue and function similarly to private businesses.

Most Public Colleges and Universities Choose to Report as Special