Which of the following is true regarding the Statement of Cash Flows for a public college?
A) The direct method must be used.
B) The statement is in the same format required for state and local governmental enterprise funds.
C) Both of the above are true.
D) Neither of the above is true.

Question

Quizplus · Accepted Answer

Public colleges, as enterprise funds, must use the direct method for the Statement of Cash Flows, and the format is the same as that required for state and local governmental enterprise funds.

Which of the Following Is True Regarding the Statement of Cash