Which of the following statements is (are)true regarding public colleges and universities choosing to report as special-purpose entities engaged in business-type activities only?
A) Endowments would be reported in the Statement of Net Assets as Net Assets Restricted-Nonexpendable.
B) Capital appropriations from state governments are shown, in the Statement of Revenues, Expenses, and Changes in Net Assets, as a category separate from revenues.
C) Both of the above.
D) Neither of the above.

Question

Quizplus · Accepted Answer

Public colleges and universities reporting as special-purpose entities engaged in business-type activities only would report endowments as Net Assets Restricted-Nonexpendable and show capital appropriations from state governments as a separate category from revenues.

Which of the Following Statements Is (Are)true Regarding Public Colleges