Friday 6 January 2017

ACC 410 WEEK 8 QUIZ 6

ACC 410 WEEK 8 QUIZ 6

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Chapter 13
Colleges and Universities
TRUE/FALSE (CHAPTER 13)
  1. Government (public) colleges and universities must adhere to the FASB pronouncements.
  1. Private not-for-profit colleges and universities are subject to the same FASB standards as other not-for-profit entities.
  1. Most colleges and universities classify revenues by source and expenses by function.
  1. GASB requires that revenues be classified into three categories of restrictiveness based on donor specification.

  1. In a public university setting, general administration and sponsored research are examples of revenues classified by source.
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