GASB accounting and reporting standards applicable to public colleges and universities:
A. Permit public colleges and universities to use the AICPA model which differs substantially from the reporting model used by private colleges and universities subject to FASB jurisdiction.
B. Permit public colleges and universities to optionally follow FASB standards.
C. Are now the same as FASB standards to permit comparability between public and private colleges and universities.
D. Differ in some significant ways from FASB standards applicable to private colleges and universities.
Answer: D
You might also like to view...
Anheuser-Busch, the brewer of Budweiser beer, lost its independence after years of focusing primarily on the domestic U.S. market. This is most likely a result of:
A) management myopia. B) national controls. C) opposition to globalization. D) newcomers from emerging markets. E) organizational culture.
An offer terminates upon the expiration of a stated time in the offer
Indicate whether the statement is true or false
Joshua is a member of a local nonprofit organization that works to beautify the community. He often has excuses for not coming to events and when he does come, he keeps to himself and complains to others around him about how he has a better way of doing things. According to Kelley’s followership typology, Joshua can best be described as ______.
A. alienated B. exemplary C. pragmatic D. conformist
Key of G Products, Inc, offers to sell to Harmony Company one hundred MP3 players at $50 a piece, subject to certain specific delivery dates. Harmony replies with a signed purchase order that reads, "Accept your of-fer for 100 I-appliances at $50 each
Must be delivered to our ware-house.". Key of G does not respond or deliver the goods. Harmony files a suit for breach of contract, to which Key of G answers that there is no contract because Harmony's purchase order contained additional terms and is not signed by Key of G. Can Harmony recover? Explain.