Private colleges are required to report net assets in the following categories:
A) Unrestricted and Restricted
B) Temporarily Restricted , Permanently Restricted and Unrestricted
C) Unrestricted, Temporarily Restricted and board designated
D) Restricted, Unrestricted and Temporarily Restricted

Question

Quizplus · Accepted Answer

Private colleges are required to report net assets in three categories: Unrestricted, Temporarily Restricted, and Permanently Restricted, as per the Financial Accounting Standards Board (FASB) guidelines.

Private Colleges Are Required to Report Net Assets in the Following