Which of the following would be true regarding the Statement of Net Assets for a public college reporting as a special purpose entity engaged in business type activities only?
A) A classified statement is required, separating current and long-term assets and liabilities.
B) The two net asset categories are restricted and unrestricted.
C) Both of the above are true.
D) Neither of the above is true.

Question

Quizplus · Accepted Answer

The Answer of Which of the following would be true regarding the Statement of Net Assets for a public college reporting as a special purpose entity engaged in business type activities only?
A) A classified statement is required, separating current and long-term assets and liabilities.
B) The two net asset categories are restricted and unrestricted.
C) Both of the above are true.
D) Neither of the above is true.

Which of the Following Would Be True Regarding the Statement