When summer school classes at a university cover parts of two fiscal years, the revenues and expenses are
A) All recognized in the second of the two years.
B) Apportioned to the two fiscal years.
C) Recognized in the year in which the term was predominantly conducted.
D) All recognized in the first of the two years.

Question

Quizplus · Accepted Answer

Because accrual accounting is used, the tuition revenue and expenses are split between the two periods that summer school covers.

When Summer School Classes at a University Cover Parts of Two