Public colleges and universities have the option to report as a single purpose government engaging in business-like activities, including reporting on a full accrual basis.

Question

Quizplus · Accepted Answer

Public colleges and universities have the option to report as a single purpose government engaging in business-like activities, and they can choose to report on a full accrual basis as part of their financial reporting. This allows them to present their financial statements in a manner similar to private sector businesses, reflecting all their assets and liabilities, including long-term debts and infrastructure assets.

Public Colleges and Universities Have the Option to Report as a Single