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.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

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.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
which of the following statements is true regarding the flow of accounting information? a. the account...
which of the following statements is true regarding the flow of accounting information? a. the account balances in the adjusted trial balance are used to prepare financial statements for the current accounting period b. transactions are first recorded in the ledger accounts and then transferred to the accounting journals c. the net income (revenue less expenses) as reported on the income statement is also reported on the balance sheet d. the dividends reported on the statement of retained earnings are...
Which of the following is a required note disclosure regarding interfund transfers? Select one: A. Interfund...
Which of the following is a required note disclosure regarding interfund transfers? Select one: A. Interfund transfers do not need to be described provided the balances due on the transfers are made within two years. B. Interfund transfers do not need to be described provided the total amount of the transfers is clearly reported on the face of the operating statement. C. Each interfund transfer, regardless of size, is required to be described D. A general description of the principal...
Which of the following is true regarding the income statement? The income statement is sometimes called...
Which of the following is true regarding the income statement? The income statement is sometimes called the statement of operations The income statement reports revenue, expenses, and liabilities The income statement only reports revenue for which cash was received at the point of sale The income statement reports the financial position of a business at a particular point in time. Which is the most correct answer that defines Opportunity Cost? The cost of already using an asset or a person...
6 Which of the following statements is a true statement relating to Tax Policy Analysis) a....
6 Which of the following statements is a true statement relating to Tax Policy Analysis) a. Administration and ease of compliance are not taken into account in the development of a tax structure. b. The only way to legally avoid a tax is to change your behavior. c. Statutory and Economic Incidence are essentially the same thing. d. All of the above statements are true. 7 Which of the following is a true statement regarding user fees? a. They should...
Which of the following is not to be extended to the statement of financial position columns...
Which of the following is not to be extended to the statement of financial position columns of the worksheet?                Select one: a. Accumulated Depreciation          b. Unearned Income c. Expired insurance premium d. Unused Supplies Which of the following is not an element in the computation of estimated depreciation expense? Select one: a. unpaid balance of the acquisition cost b. Acquisition cost                                c. Estimated useful life       d. Scrap value at the end of the useful life Using the liability method, the...
1.Which of the following is the amount the borrower must pay back to the bondholders at...
1.Which of the following is the amount the borrower must pay back to the bondholders at maturity? A. present value B. principal amount C. stated interest value D. market value 2. Which of the following is a true statement regarding the effect of a stock split and stock dividend on total assets or liabilities? A. Both a stock split and a stock dividend will increase total liabilities. B. A stock split will increase total assets, but a stock dividend will...
.1. Which of the following is not a correct statement about accounting? a. Generally accepted accounting...
.1. Which of the following is not a correct statement about accounting? a. Generally accepted accounting principles (GAAP) is a set of accounting standards used in the preparation of financial statements. b. Financial Accounting Standards Board (FASB) is a private organization delegated by the Federal Reserve with the responsibility to establish the GAAP. c. Management accountants work with a business or nonprofit organizations, preparing reports and analyzing financial info. d. Public accountants provide a variety of accounting services for clients...
QUESTION 29 Which of the following are TRUE statements regarding civil penalties that may be imposed...
QUESTION 29 Which of the following are TRUE statements regarding civil penalties that may be imposed for insider trading violations? I. Civil penalties may be imposed only on registered persons. II. The civil penalty may be up to three times the profit gained or the loss avoided on an illegal transaction. III. A broker/dealer may be held liable if one of its registered reps was not properly supervised while committing an insider trading violation. IV. The violation is defined as...
3.When closing entries are made:Immersive Reader (1 Point) All ledger accounts are closed to start the...
3.When closing entries are made:Immersive Reader (1 Point) All ledger accounts are closed to start the new accounting period. All real accounts are closed but not the nominal accounts. All balance sheet accounts are closed. All temporary accounts are closed but not the permanent accounts. All permanent accounts are closed but not the nominal accounts. 4.A wholesaler is an intermediary that buys products from manufacturers or other wholesalers and sells them to consumers.Immersive Reader (1 Point) True False 5.The Merchandise...
Which of the following statements is true of the LIFO cost flow assumption a. LIFO yields...
Which of the following statements is true of the LIFO cost flow assumption a. LIFO yields a higher net income than FIFO and averaging in a period of rising prices. b. LIFO provides a better matching of current costs and expenses. c. LIFO yields a higher cost of goods sold than other costing methods, in periods of falling prices. d. LIFO yields a lower ending inventory than other costing methods, in periods of falling prices. e. LIFO puts the earliest...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT