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 may engage in both governmental and business-type activities. As a result, they have the option to report as either 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. Therefore, option (c) is the best choice.

Public Colleges and Universities May Choose to Report As