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Government (public) colleges and universities must adhere to the FASB pronouncements True False QUESTION 2 Private not-for-profit colleges and universities are subject to the same

image text in transcribed Government (public) colleges and universities must adhere to the FASB pronouncements True False QUESTION 2 Private not-for-profit colleges and universities are subject to the same FASB standards as other not-for-profit entities True False QUESTION 3 Most colleges and universities classify revenues by source and expenses by function True False

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