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Question 4) Most colleges and universities use the National Association of College and University Business Officers (NACUBO) classification system for reporting expenses. True False Question

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Question 4) Most colleges and universities use the National Association of College and University Business Officers (NACUBO) classification system for reporting expenses. True False Question 5) Upon receiving a contribution with a donor-imposed purpose restriction, a public university records contribution revenue and restricts a portion of net position until the restriction is met. True o False Question 6) Contributions to be paid at a later date are called pledges. True 0 False

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