For the Year Ended June 30,20X9,a University Assessed Its Students

question 120

Multiple Choice

For the year ended June 30,20X9,a university assessed its students a total of $4,000,000 for tuition and fees.Included in this amount was $300,000 of tuition remissions awarded to graduate teaching assistants,and $150,000 of scholarships awarded to undergraduate students.Tuition and fees totaling $3,550,000 were collected during the year ended June 30,20X9.What amount should be reported in the unrestricted fund as net revenue from tuition and fees for the year ended June 30,20X9?

• A) $4,000,000
• B) $3,550,000
• C) $3,700,000
• D) $3,850,000

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Definitions:

Air Suspension System

A type of vehicle suspension powered by an electric or engine-driven air pump or compressor, which pumps air into flexible bellows, typically made from textile-reinforced rubber.

Height Control Valve

A component in air suspension systems of vehicles that adjusts the ride height by controlling the air flow into or out of the air suspension bags.

Progressive Leaf Spring

A type of leaf spring suspension featuring leaves of varying lengths stacked together, providing a more comfortable ride by adjusting to load and road conditions progressively.

Pneumatic

Refers to technology or devices operated by compressed air or gas.