1. Escheat property is best described as which of the following?

		A. Property possessed by a local government, but whose use is restricted by a higher government.
		B. Property a government obtains and holds for the rightful owner in the absence of claimants or heirs.
		C. Property gifted to the government by private citizens.
		D. Property the government obtains via eminent domain.

2. A private college had tuition and fees for the year ended June 30, 20X7 in the amount of $45,000,000. Scholarships, for which no services were required, amounted to $4,800,000. Graduate assistantships, for which services were required, amounted to $2,300,000. The amount to be reported by the college for net tuition and fee revenue would be:

		A. $37,900,000.
		B. $40,200,000.
		C. $42,700,000.
		D. $45,000,000