Which of the Following Is True Regarding Accounting and Financial

question 51

Multiple Choice

Which of the following is true regarding accounting and financial reporting for private colleges and universities?

• A) Pell Grants are reported as nonoperating revenue
• B) Revenues from residence halls, dining services and bookstores are reported as Auxiliary Enterprises - within nonoperating revenue.
• C) Expenses associated with central management, planning and administration are classified as Institutional Support - within income from operations
• D) All of the above are all true.