When a Private College or University Has a Foundation,and That

question 90

Multiple Choice

When a private college or university has a foundation,and that foundation receives contributions specifically directed for the benefit of the college or university,

• A) The college or university records no revenue until monies are received from the foundation.
• B) The college or university records an increase in net assets and unearned revenue. When the money is received the unearned revenue is reduced and revenue is recorded.
• C) The college or university must recognize its interest in the contribution as an asset and revenue at the same time as the foundation.
• D) The college or university records receipt of money from the foundation as it would any other contribution of resources.

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Definitions:

International Transfers

The process of moving funds, employees, data, or goods across national borders from one country to another.

Job-Related Skills

Abilities or expertise that are directly relevant to performing specific jobs or tasks within a profession.

Operating Employees

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Individuals who have extensive knowledge and skills in a specific technical area, contributing their expertise to improve organizational processes or products.