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colleges use: nomic resources measurement focus. ent resources focus. ified accrual accounting approach. basis accounting approach.

colleges use: nomic resources measurement focus. ent resources focus. ified accrual accounting approach. basis accounting approach.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PUBLIC COLLEGES AND UNIVERSITIES 1. Public colleges use: a. An economic resources measurement focus. b. A current resources focus. c. A modified accrual accounting approach. d. A cash basis accounting approach. 2. According to SGAS 35, a public university is re- quired to report: a. Fund-based financial statements. b. Institution-wide (government-wide) financial statements c. A balance sheet for the general fund. d. An actual vs. budget report for the special reve- nue fund. 3. A management's discussion and analysis report for public colleges: a. Is optional. b. Should be reported as part of the footnotes. c. Is required and should precede the financial statements. d. Is required and should follow the presentation of each financial statement.
Transcribed Image Text:PUBLIC COLLEGES AND UNIVERSITIES 1. Public colleges use: a. An economic resources measurement focus. b. A current resources focus. c. A modified accrual accounting approach. d. A cash basis accounting approach. 2. According to SGAS 35, a public university is re- quired to report: a. Fund-based financial statements. b. Institution-wide (government-wide) financial statements c. A balance sheet for the general fund. d. An actual vs. budget report for the special reve- nue fund. 3. A management's discussion and analysis report for public colleges: a. Is optional. b. Should be reported as part of the footnotes. c. Is required and should precede the financial statements. d. Is required and should follow the presentation of each financial statement.
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