23. The basic required financial statements for the American Red Cross include

a.	Statement of Cash Flows	c.	Statement of Budget to Actual
b.	Statement of Functional Expenses	d.	Both a and b

24. A university has tuition and fee revenue of $20,000,000 for the summer semester that bridges two fiscal years. Sixty percent of the instruction takes place in the next fiscal year and the university decides to allocate the revenue on that basis. The journal entry to record this transaction in the current fiscal year will include

a.	$12,000,000 in deferred revenue	c.	$12,000,000 in revenue
b.	$20,000,000 in revenue	d.	$8,000,000 in deferred revenue