Tuition revenue for classes spanning two fiscal periods must be allocated on a pro-rata basis.

Question

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Tuition revenue for classes that span two fiscal periods should be allocated on a pro-rata basis. This means that the revenue should be divided based on the number of days the class was held in each fiscal period. This ensures that the revenue is accurately reflected on the financial statements for each period.

Tuition Revenue for Classes Spanning Two Fiscal Periods Must Be