A Government University That Chooses to Report as a Business-Type

question 16

Multiple Choice

A government university that chooses to report as a business-type special purpose government, purchases land for a planned dormitory by securing a ten year bank loan. The entry to record the purchase and procurement of funding would include

• A) A debit to assets.
• B) A credit to fund balance.
• C) A debit to expenditures.
• D) A credit to other financing sources.

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Definitions:

Intrinsically Imperfect

Suggests that something has inherent flaws or limitations, emphasizing the idea that imperfection is a fundamental aspect of its nature.

Imperfectible

The belief that it is impossible to achieve perfection or complete improvement in the human condition.

Functional

In sociology, referring to the aspects of societies or institutions that contribute to their stability and continuity by fulfilling necessary roles.

Practical

Pertains to real-world applications or actions rather than theoretical ideas, emphasizing usability and effectiveness in everyday situations.