Public colleges and universities may choose to report as:
A) Special-purpose entities engaged in governmental and business-type entities.
B) Special-purpose entities engaged in business-type activities only.
C) Either (A) or (B) depending on the nature of their operations.
D) Neither (A) nor (B).

Question

Quizplus · Accepted Answer

Public colleges and universities have both governmental and business-type activities. Therefore, they have the option to report as special-purpose entities engaged in governmental and business-type entities or special-purpose entities engaged in business-type activities only, depending on the nature of their operations.

Public Colleges and Universities May Choose to Report As