Which of the Following Is True Regarding Accounting and Financial

question 3

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) 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
• C) The Statement of Cash Flows must use the direct method
• D) None of the above is true

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Definitions:

Random Numbers

Numbers generated in a sequence where each number has an equal probability of occurring, widely used in simulations, statistical sampling, and cryptography.

Repeated Use

Refers to the capability of an item or resource to be used multiple times, rather than being disposable after a single use.

Cumulative Probability

The probability of obtaining a value less than or equal to a particular value in a distribution.

Random Number Intervals

Ranges used in simulations that represent probabilities of different outcomes occurring.