Private colleges and universities use the economic resources measurement focus and the accrual basis of accounting.

Question

Quizplus · Accepted Answer

Private colleges and universities use the economic resources measurement focus and the accrual basis of accounting, which means they record revenues and expenses when they are earned or incurred, regardless of when the cash is received or paid out. This method provides a more accurate picture of the financial health of the institution.

Private Colleges and Universities Use the Economic Resources Measurement Focus