Which of the Following Statements Are True

Which of the following statements are true?

A) All colleges and universities report under the same GAAP guidelines.
B) Private colleges and universities must report using FASB guidance. Public colleges and universities are permitted to follow that guidance or the guidance in the AICPA's college and university audit guide.
C) Private colleges and universities must report using the FASB guidance. Public colleges and universities must report using GASB guidance.
D) Public colleges and universities must report as special purpose governments engaged only in business-type activities.