18. The term used to describe the application of accounting to expendable fund entities is the: A) modified accrual method. B) accrual method. C) cash method. D) modified cash method. 19. It is proper to recognize revenues or expenditures resulting from which of the following classifications of interfund activity? A) Interfund services provided/used and interfund transfers B) Interfund loans and interfund transfers C) Interfund services provided/used and interfund reimbursements D) Interfund reimbursements and interfund loans 20. Which of the following is used for current expenditures by a college? A) Unrestricted Current Funds, Yes; Restricted Current Funds, Yes B) Unrestricted Current Funds, No; Restricted Current Funds, No C) Unrestricted Current Funds, Yes; Restricted Current Funds, No D) Unrestricted Current Funds, No; Restricted Current Funds, Yes 21. During the years ending June 30, 2016, and June 30, 2017, Jefferson University conducted a cancer research project financed by a $3,000,000 gift from an alumnus. This entire amount was pledged by the donor on July 10, 2015, although he paid only $800,000 at that date. The gift was restricted to the financing of this particular research project. During the two-year research period, Jefferson related gift receipts and research expenditures were as follows: Gift receipts Cancer research restricted expenditures 2016 1,100,000 1,400,000 Year Ended June 30 2017 1,200,000 1,600,000 How much gift revenue should Jefferson University report in the temporarily restricted column of its statement of activities for the year ended June 30, 2017? A) SO B) $1,200,000 C) S3,000,000 D) $1,600,000