Under GASB Statement 35,public Colleges and Universities Are Permitted to Report

question 43

Multiple Choice

Under GASB Statement 35,public colleges and universities are permitted to report as special purpose governments engaged in:

• A) Business-type activities only.
• B) Both governmental and business-type activities.
• C) Governmental activities only.
• D) Any one of the above.

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Definitions:

Activity Variances

The differences between planned levels of activity and actual levels, and their impact on budgeted figures.

Spending Variances

The difference between the actual costs incurred and the budgeted or standard costs.

Meals

Refers generally to food that is prepared and served to individuals, often used in contexts ranging from personal dining to large-scale service industries.

Patient-visits

The number of times patients seek services from a healthcare provider or facility.