Which of the Following Is True Regarding Accounting and Financial

question 28

Multiple Choice

Which of the following is true regarding accounting and financial reporting for private colleges and universities?

• A) Expenses may be unrestricted or temporarily restricted depending on donor intent.
• B) The Statement of Cash Flows must use the direct method.
• C) A Statement of Unrestricted Revenues, Expenses and Other Changes in Unrestricted Net Assets and a Statement of Changes in Net Assets may be presented instead of a Statement of Activities.
• D) None of the above are true.

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Definitions:

Population Standard Deviation

The standard deviation of the entire population under study, representing the total variability within the population data.

Observed Z Value

A standardized statistic that represents the number of standard deviations a data point is from the mean of a distribution.

Sample Mean

The average value of a sample set of a population, used as an estimate of the population mean.

Population Average

The mean value of a particular characteristic in a specified population, representing a central tendency.