How is a government grant accounted for at a public university? $\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\begin{array}{llcc}
\text { Revenue} & \quad\quad\quad\quad\quad\quad\quad\quad \text { Expense } \
\end{array}$

Question

How is a government grant accounted for at a public university? $\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\begin{array}{llcc}
  \text {  Revenue} & \quad\quad\quad\quad\quad\quad\quad\quad \text { Expense } \
\end{array}$

Quizplus · Accepted Answer

Government grants are generally considered as restricted revenue as they come with specific terms and conditions for use. Thus, the grant would be recorded as restricted revenue when received, and the expenses incurred in conjunction with the grant would be recorded as a reduction to the restricted revenue account. This ensures that funds are being used in compliance with the grant's restrictions and that the university can account for the proper use of the grant.

How Is a Government Grant Accounted for at a Public \quad

How Is a Government Grant Accounted for at a Public $\quad$