According to Statement of Financial Accounting Standards 117 (FASB 117;ASC

question 68

Multiple Choice

According to Statement of Financial Accounting Standards 117 (FASB 117;ASC 958) ,the statement of financial position of a private university should report the excess of the university's assets over its liabilities as:

• A)fund balance.
• B)unrestricted and restricted fund balance.
• C)retained earnings.
• D)unrestricted,temporarily restricted,and permanently restricted net assets.

---

Definitions:

Continuously

Ongoing without interruption or cease, typically used to describe processes or operations that do not stop or pause.

Partially

To some extent but not completely; involving only a part or portion.

Intermittently

Describes something occurring at irregular intervals; not continuously or steadily.

Social Cognitive Theory

A theoretical framework that emphasizes the importance of observational learning, imitation, and modeling in acquiring new behaviors.