The Following Information Applies to the Next Three Questions

question 61

Multiple Choice

The following information applies to the next three questions:
Tuition and fees for the Northern University was assessed at $21,000,000. Scholarship allowances, for which no services are required, were $1,700,000 and graduate assistantships, for which services are required, were $900,000.
-What is the journal entry to record the graduate assistantships?

• A) Not recorded because it was deducted from tuition revenue before revenue it was recorded

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Definitions:

Center of Influence

A person or organization that has a major impact on opinions or actions within a specific area or community due to their authority, knowledge, position, or network.

Prospecting

The act of searching for potential customers or clients to generate new business opportunities.

Qualified Prospect

A Qualified Prospect is a potential customer who has been assessed and determined to fit the target market's criteria, showing both interest in and the capacity to purchase a product or service.

Purchasing Agent

An individual who is responsible for buying products, equipment, or services for a company or organization, often negotiating terms and prices.