Tuition revenues of government colleges and universities are reported
a. Net of bad debts, scholarships and fellowships.
b. Net of bad debts.
c. Net of scholarships and fellowships.
d. At the gross amount of the standard tuition and fees.
Question 2
Which of the following is not true regarding depreciation?
a. Depreciation allocates the cost of a fixed asset over its estimated life.
b. Depreciation expense reflects the decrease in market value each year.
c. Depreciation is an allocation not a valuation method.
d. Depreciation expense does not measure changes in market value.
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