A College Has Collected Returnable Dormitory Room Deposits from Students

question 16

Multiple Choice

A college has collected returnable dormitory room deposits from students. How would these deposits be reported by the college?

• A) A current liability.
• B) Unrestricted revenue.
• C) Restricted revenue.
• D) A long-term liability.

---

Definitions:

Evergreen Shrubs

Shrubs that retain their leaves throughout the year and do not shed them seasonally.

Scrub Oak

A type of small, shrubby oak tree adapted to grow in dry, sandy, or rocky soils, often found in scrublands or pine barrens.

Tallgrass Prairie

A type of grassland ecosystem characterized by tall grasses, which is native to the central part of the United States.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, known for its rich history and cultural diversity.