Which of the following is not true regarding the Statement of Revenues,Expenses,and Changes in Net Position for a public college,operating as a special-purpose entity engaged only in business-type activities?
A) The accrual basis of accounting is used.
B) Auxiliary enterprise activities represent revenues and expenses related to units of the college that provide services to students on a user fee basis.
C) Infrastructure must be reported using the modified approach.
D) All of the above are true.

Question

Quizplus · Accepted Answer

Infrastructure is not typically reported using the modified approach in the Statement of Revenues, Expenses, and Changes in Net Position for a public college operating as a special-purpose entity engaged only in business-type activities.

Which of the Following Is Not True Regarding the Statement