Cactus College,a small private college,received a research grant from NACUBO to study whether service efforts and accomplishments measures improve institutional performance.Under the provisions of SFAS No.116 the grant would be reported as an increase in:

Question

Quizplus · Accepted Answer

According to SFAS No.116, grants that are restricted to specific purposes or time periods are reported as temporarily restricted net assets until the purpose or time restriction has been met. Therefore, the research grant received by Cactus College would be reported as an increase in temporarily restricted net assets.

Cactus College,a Small Private College,received a Research Grant from NACUBO