How Would a Private College or University Report Its Estimate

question 22

Multiple Choice

How would a private college or university report its estimate for uncollectible tuition and fees on its statement of activities?

• A) A contra-revenue account titled Provision for Doubtful Accounts.
• B) A direct reduction of Tuition and Fees-Unrestricted.
• C) An operating expense titled Provision for Doubtful Accounts.
• D) An operating expense titled Bad Debt Expense.

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Definitions:

Cause and Effect

The relationship between events or phenomena where one is the result of the other or others, a fundamental principle of logic and reasoning.

Negotiating Collective

A group or body that comes together to bargain collectively, often for better wages, working conditions, or other shared goals.

Symbolic Practices

Actions or rituals that represent or communicate particular meanings, values, or beliefs within a culture or society.

Organizational Goals

The strategic objectives that an organization aims to achieve, which guide its operations and decision-making processes.