When a Private College or University Has a Foundation,and That

question 27

Multiple Choice

When a private college or university has a foundation,and that foundation receives contributions specifically directed for the benefit of the college or university,

• A) The college or university records no revenue until monies are received from the foundation
• B) The college or university must recognize its interest in the contribution as an asset and revenue at the same time as the foundation.
• C) At the time of the contribution to the foundation, the college or university records an increase in net assets and unearned revenue. When the money is received the unearned revenue is reduced and revenue is recorded.
• D) None of the above

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Definitions:

Transitions

The process or period of changing from one state or condition to another in various aspects of life or systems.

Age Discrimination

Refers to the unfair treatment of people because of their age, usually targeting the elderly or younger adults in the workplace or society.

Prevalence

The proportion of a population found to be affected by a particular disease, condition, or phenomenon at a specific time.

Working in Adulthood

The phase of life characterized by engagement in employment or professional activities, typically to earn a living and contribute to society.