Question

Which of the following is not true regarding the Statement of Revenues, Expenses, and Changes in...

Which of the following is not true regarding the Statement of Revenues, Expenses, and Changes in Net Position for a public college?

Multiple Choice

  • State appropriations and Pell Grants are reported as operating revenue.

  • Revenues from residence halls, dining services and bookstores are reported as Auxiliary Enterprises – within operating revenue.

  • Expenses associated with central management, planning and administration are classified as Institutional Support.

  • None of the above, these are all true.

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Answer #1

Ans:

Option:1 State appropriations and Pell Grants are reported as operating revenue, is Correct Answer


Explanation:
The Following Is True Regarding The Statement Of Revenues, Expenses, And Changes In Net Position For A Public College

  • Revenues from residence halls, dining services and bookstores are reported as Auxiliary Enterprises – within operating revenue.

  • Expenses associated with central management, planning and administration are classified as Institutional Support.

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