Which of the following is not true of a Statement of Activities prepared for a private college or university?
A) Reimbursement type grants are recorded as operating revenue when qualifying expenses are made, not when the grant is approved.
B) Reclassifications from temporarily restricted to unrestricted net assets are reported when the donor's restrictions have been met.
C) Expenses may be unrestricted or temporarily restricted depending on donor intent.
D) All of the above are true.

Question

Quizplus · Accepted Answer

All expenses are categorized as unrestricted on the Statement of Activities prepared for a private college or university

Which of the Following Is Not True of a Statement