The University Foundation Is a Legally Separate, Tax-Exempt 501c3 Entity

question 28

Multiple Choice

The University Foundation is a legally separate, tax-exempt 501c3 entity organized for the purpose of raising funds to provide scholarships only to academically qualified students at State University.Members of the board of the University Foundation are elected by the existing Board of Trustees.The Foundation provides scholarships to students of State University, but the Foundation receives no financial support from the University.In what manner would State University include the Foundation in its financial statements?

• A)Blended.
• B)Discretely presented.
• C)Consolidated.
• D)Note disclosure only.

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Definitions:

James-Lange Theory

A theory of emotion proposing that physiological arousal precedes the experience of emotion, suggesting emotions are the interpretation of bodily reactions.

Physiological Changes

Alterations in the body's functions and processes, which can occur due to development, aging, or response to environments.

Stimulus

Anything that can trigger a physical or behavioral change, ranging from the environment to internal processes in an organism.

Display Rules

Socially learned norms and regulations specifying which emotions individuals can show in particular situations.