The Statement of Net Position of Government Colleges and Universities

question 16

Multiple Choice

The statement of net position of government colleges and universities engaged only in business-type activities would not report which component of net position?

• A) Unrestricted net position.
• B) Temporarily restricted net position.
• C) Net investment in capital assets.
• D) Restricted net position.

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Definitions:

Absolute Advantage

The ability of an individual, firm, or country to produce more of a good or service than competitors using the same amount of resources.

Shoemaking

is the craft or industry involved in the design, production, and repair of shoes, including both traditional techniques and modern manufacturing.

Opportunity Cost

Opportunity cost represents the value of the best alternative that is foregone when making a choice, highlighting the trade-offs involved in any decision.

Loads of Laundry

Quantity of laundry being washed and dried in a single operation or cycle.