A private university offers graduate assistantships to qualified students each year.In exchange for the waiver of tuition,graduate assistants are required to assist faculty members with research and other activities.Assume a graduate assistant received a $4,000 tuition waiver for the current academic year.Based on these facts,the university should record:
A) tuition revenues of $4,000 and expenditures of $4,000.
B) tuition revenues of $0 and expenditures of $0.
C) tuition revenues of $4,000 and expenditures of $0.
D) tuition revenues of $4,000 and a reduction of tuition revenues of $4,000.
Correct Answer:
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