The Three Classes of Net Assets Required to Be Presented

question 72

Multiple Choice

The three classes of net assets required to be presented by a private college or university are:

• A) Permanently Restricted, Temporarily Restricted, and Unrestricted.
• B) Reserved, Unreserved, and Undesignated.
• C) Invested in Capital Assets net of Related Debt, Restricted, and Unrestricted.
• D) Educational and General, and Auxiliary Enterprises

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Definitions:

Paraphrase

The act of rewording or rephrasing text or speech to clarify meaning or provide variation, while maintaining the original message.

Summary

A brief statement or account that presents the main points of a text, document, or speech in a condensed form.

Correlation

The simultaneous change in two variables; changes in one variable may or may not cause changes in the other.

Cause-and-effect

Cause-and-effect is a relationship where one event (the cause) makes another event happen (the effect), often used to explain why things happen.