If a Public University Receives $1,000,000 in Fiscal Year 2011

question 12

Essay

If a public university receives $1,000,000 in fiscal year 2011 as a grant restricted for a specific research project and makes expenditures amounting to $400,000 during fiscal year 2011 properly chargeable to the grant,how much should be reported as revenues in fiscal year 2011? Explain.

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Definitions:

Recruitment Process

A series of activities and steps organizations undertake to attract, screen, and hire new employees.

Searching

The act of looking for or actively seeking out information, resources, or locations, often utilizing technology or systematic methods.

Socialization

The process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society or group.

Internal Recruitment

involves filling job vacancies within an organization by considering current employees for promotion or transfer to the open positions.