Which of the following items would not affect the amounts reported in Revenues and Gains section of the statement of activities for a private college or university?

Question

Quizplus · Accepted Answer

Deferred revenues are reported in the Liabilities and Deferred Inflows section of the statement of financial position, not in the Revenues and Gains section of the statement of activities. The other items listed do affect the amounts reported in the Revenues and Gains section. Student tuition and fees represent revenue earned from students, tuition and fees discounts and allowances reduce the amount of revenue earned from tuition and fees, and net assets released from restriction represent revenue earned from the release of donor restrictions on gifts.

Which of the Following Items Would Not Affect the Amounts