According to NACUBO Guidelines, What Is the Correct Treatment for Recognizing

question 33

Multiple Choice

According to NACUBO guidelines, what is the correct treatment for recognizing summer school revenues and expenses when a college's fiscal year ends on June 30?

• A) Recognize the entire amount of revenues and expenses in the year in which the summer term is predominantly conducted.
• B) Recognize the entire amount of revenues and expenses in the year in which the summer term began.
• C) Apportion the revenues and expenses to the two fiscal years, following accrual accounting practices similar to those employed by commercial enterprises.
• D) Recognize expenses in the year in which they were billed and the expenses in the year in which they were incurred.

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Definitions:

Physical Functioning

The ability to perform tasks and activities that require physical capability, including daily living activities and physical exercise.

Social Functioning

The way an individual performs and interacts in social situations, including fulfilling roles, relationships, and obligations.

Weight-Bearing Aerobic Exercise

Aerobic exercises that force you to work against gravity, such as walking, jogging, or dancing, enhancing bone and muscular strength.