Which of the following is not true regarding the Statement of Revenues, Expenses, and Changes in Net Position for a public college? A) State appropriations and Pell Grants are reported as operating revenue B) Revenues from residence halls, dining services and bookstores are reported as Auxiliary Enterprises - within operating revenue. C) Expenses associated with central management, planning and administration are classified as Institutional Support D) None of the above, these are all true.

Question

Quizplus · Accepted Answer

State appropriations are reported as nonoperating revenue in the Statement of Revenues, Expenses, and Changes in Net Position for a public institution. Pell grants are recorded as nonoperating revenue for a public institution.

Which of the Following Is not True Regarding the Statement