Question 1

The NACUBO Financial Accounting and Reporting Manual treats estimates of uncollectible accounts for colleges and universities as:

Accepted Answer

A)  Bad debt expense 
B)  Reduction in revenue 
C)  Other financing uses 
D)  None of the above 
A)  Bad debt expense 
B)  Reduction in revenue 
C)  Other financing uses 
D)  None of the above

Question 2

Match between columns
                        Premises: Unrestricted, Temporary and Permanently restricted Net Assets
Net Assets Invested in Capital Assets, net of related debt, Restricted Net Assets, Unrestricted Net Assets.
Paid in Capital, Retained Earnings

Accepted Answer

The Answer of Private Not for Profit and Public University is...

Question 3

A tuition waiver for a student who works as a graduate assistant is treated as compensation expense.

Accepted Answer

A) True 
 B)False

Question 4

Tuition waivers associated with graduate assistantships or work-study programs are accounted for as

Accepted Answer

A)  Reductions in revenue 
B)  Bad debt expense 
C)  Compensation expense 
D)  Discounts 
A)  Reductions in revenue 
B)  Bad debt expense 
C)  Compensation expense 
D)  Discounts

Question 5

Public colleges and universities are subject to standards issued by:

Accepted Answer

A)  GASB 
B)  FASB 
C)  SEC 
D)  None of the above 
A)  GASB 
B)  FASB 
C)  SEC 
D)  None of the above

Question 6

Private colleges and universities record depreciation expense.

Accepted Answer

A) True 
 B)False

The NACUBO Financial Accounting and Reporting Manual treats estimates of uncollectible accounts for colleges and universities as:

A tuition waiver for a student who works as a graduate assistant is treated as compensation expense.

Tuition waivers associated with graduate assistantships or work-study programs are accounted for as

Public colleges and universities are subject to standards issued by:

Private colleges and universities record depreciation expense.

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Trust Funds

Government-Wide Statements, Capital Assets, Long-Term Debt

Accounting for Special-Purpose Entities, Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

Accounting for Hospitals and Other Health Care Providers

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Filters

Exam 11: College and University Accounting Private Institutions

The NACUBO Financial Accounting and Reporting Manual treats estimates of uncollectible accounts for colleges and universities as:

A tuition waiver for a student who works as a graduate assistant is treated as compensation expense.

Tuition waivers associated with graduate assistantships or work-study programs are accounted for as

Public colleges and universities are subject to standards issued by:

Private colleges and universities record depreciation expense.

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Organizations

Overview of Financial Reporting for State and Local Governments

Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority

Accounting for the General and Special Revenue Funds

Accounting for Other Governmental Fund Types: Capital Projects, Debt Service, and Permanent

Proprietary Funds

Fiduciary Trust Funds

Government-Wide Statements, Capital Assets, Long-Term Debt

Accounting for Special-Purpose Entities, Including Public Colleges and Universities

Accounting for Private Not-For-Profit Organizations

Accounting for Hospitals and Other Health Care Providers

Auditing, Tax-Exempt Organizations, and Evaluating Performance

Filters