Which of the following types of college/university would have these components of the Financial Report?
•Statement of Financial Position.
•Statement of Activities.
•Statement of Cash Flows.
•Notes to the Financial Statements.
A) Investor Owned.
B) Public University.
C) Private Not-for-Profit.
D) None of the above.

Question

Quizplus · Accepted Answer

Private Not-for-Profit colleges/universities are required to file financial statements with the IRS and state regulatory agencies, which include a Statement of Financial Position, Statement of Activities, Statement of Cash Flows, and Notes to the Financial Statements. Public universities also file financial statements, but may not be required to follow the same reporting standards as private institutions. Investor-owned colleges/universities would not have the same reporting requirements, as their financial statements would be geared towards shareholders and investors.

Which of the Following Types of College/university Would Have These