Tuition Waivers for Which There Is No Intention of Collection

question 22

Multiple Choice

Tuition waivers for which there is no intention of collection from the student should be classified by a college as:

• A) Revenue, No; Expenditures, No
• B) Revenue, No; Expenditures, Yes
• C) Revenue, Yes; Expenditures, Yes
• D) Revenue, Yes; Expenditures, No

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Definitions:

Contracts

Legal agreements between two or more parties that are enforceable by law, outlining responsibilities, duties, and sharing of benefits.

IRR

Internal Rate of Return; the discount rate that makes the net present value of all cash flows from a particular project zero.

Cash Flow

The net amount of cash and cash-equivalents being transferred into and out of a business.

Project

A temporary endeavor undertaken to create a unique product, service, or result with specific objectives and defined beginning and end.