Author Question: Which of the following is an example of a mandatory transfer in college and university accounting? ... (Read 59 times)

CBme · **on:** Jul 5, 2018

Which of the following is an example of a mandatory transfer in college and university accounting?

a. a transfer to a Plant Fund to set aside amounts that will be used to pay debt service in accordance with a clause in a bond agreement
b. a transfer to a Plant Fund based on a decision by the Board of Trustees to build a new school of engineering
c. a transfer to a Plant Fund based on a decision by management to build new box seats in the football stadium for major donors
d. a reclassification from temporarily restricted to unrestricted net assets

Question 2

The work sheet columns that show the amounts that will be reported in the statement of owner's equity and the balance sheet are the ___________________ _.
Fill in the blank(s) with correct word