Under NACUBO Guidelines,tuition Waivers Associated with Athletic or Academic Scholarships

question 6

Multiple Choice

Under NACUBO guidelines,tuition waivers associated with athletic or academic scholarships should be reported as:

• A) Expenses.
• B) Reductions in revenue.
• C) Transfers.
• D) None of the above.

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Definitions:

Subleases

Secondary leases whereby the original tenant rents out their rental property to a new tenant, transferring some or all of their tenancy rights to the subtenant.

Liable

Legally responsible or obligated to provide compensation for causing loss or damage through negligent or wrongful acts.

Irrevocable Right

A legal entitlement or authority that cannot be revoked, altered, or undone once it has been granted or established.

License

A revocable right to use another’s property temporarily.