Scholarships (tuition discounts) provided to students where no service is required:
A. Are included in tuition revenue and recorded as an expense.
B. Are reported as an adjustment to tuition revenue in the government-wide statements.
C. Are not included in tuition revenue but are included as an "other source".
D. Are reported as a reduction of revenue by directly reducing the revenue account or increasing a contra- revenue account.
Answer: D
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Bar code scanning may best be utilized in the receiving process to accomplish which of the following?
a. Identify goods arriving automatically in conjunction with a count. b. Notify the shipper that product has arrived. c. Order new items on behalf of the purchasing department. d. Record inventory that has been written off the books.
Contribution margin per unit is the amount by which a product's unit selling price exceeds its variable cost per unit.
Answer the following statement true (T) or false (F)
When customer service activities are neglected, this is referred to as a __________.
What will be an ideal response?
Identify the wordy expressions and redundancies in the following sentence: "Each and every manager is of the opinion that we must reduce expenses in order to increase revenue." Rewrite the sentence and compute the lard factor