Which of the following is true regarding the Statement of Cash Flows for a public college?
A) The indirect 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 typically follow the same reporting standards as state and local governmental enterprise funds, which often use the direct method for the statement of cash flows.

Which of the Following Is True Regarding the Statement of Cash