Fees waived by an educational institution in return for services to be provided by students are reported:
A. As an expense.
B. As an adjustment to tuition revenue in the government-wide statements.
C. By deducting the waived fee from tuition revenue before it is recorded.
D. As a reduction in tuition revenue by directly reducing the revenue account or increasing a contra-revenue account.
Answer: A
You might also like to view...
The purpose of the receiving report is to
a. order goods from vendors b. record receipt of goods from vendors c. authorize the purchasing department to order goods d. bill for goods delivered
In Markov analysis, the fundamental matrix
A) is necessary to find the equilibrium condition when there are absorbing states. B) can be found but requires, in part, partitioning of the matrix of transition probabilities. C) is equal to the inverse of the I minus B matrix. D) is multiplied by the A matrix in order to find the probabilities that amounts in non-absorbing states will end up in absorbing states. E) All of the above
All of the following statements about agency problems are true EXCEPT
A) Agency problems result from the separation of management and the ownership of a firm. B) Agency problems interfere with the goal of maximizing shareholder value. C) Agency costs are paid by the managers who do not act in the shareholders' best interest. D) The root cause of agency problems is conflicts of interest.
Larry is part of the Board of Governors that manages U.S. monetary policy. He has been elected by the President to serve a single 14-year term. In addition to setting the monetary policy, he is responsible for extending banking services to commercial banks. In this scenario, Larry is most likely part of the _____.
A. Federal Reserve B. Department of Commerce C. Bureau of Economic Analysis D. U.S. Treasury