Fees waived by an educational institution in return for services to be provided by students are reported:
A) As a reduction in tuition revenue by directly reducing the revenue account or increasing a contra-revenue account.
B) As an adjustment to tuition revenue in the government-wide statements.
C) As an expense.
D) By deducting the waived fee from tuition revenue before it is recorded.

Question

Quizplus · Accepted Answer

Fees waived by the institution in return for services provided by work-study and graduate assistant assistantships are shown as expenses, and tuition and fee revenue is reported at the gross amount.

Fees Waived by an Educational Institution in Return for Services