universities? Statement of revenues, expenditures, and changes in fund balance; statement of activities; and statement of cash flows. Statement of financial position; statement of current funds revenues, expenditures, and other changes; and statement of changes in fund balances. Statement of financial position; statement of activities; and statement of cash flows. Statement of financial position; statement of changes in fund balances; and statement of cash flows. Question 21 ( 2 points) A donor gave $1,000,000 to a private college in 207 with the expressed intent that the funds be used in 20X8. In addition, another donor gave $300,000 in 207 for student scholarships. During 207,$200,000 was expended for student scholarships. The amount that should be recorded as revenue in 207 would be: $200,000 $300,000. $1,300,000. $1,200,000. For the fall session of 207, a public government university assessed its students $2,000,000 (net of refunds), covering tuition and fees for education and general purposes. However, only $1,750,000 was expected to be realized because scholarships totaling $200,000 were granted to students, and tuition remissions of $50,000 were allowed to faculty members' children attending the university. What amount should the university include as without donor restrictions revenues from student tuition and fees? $1,750,000$2,000,000$1,800,000$1,950,000 A public government university, conducts a summer session that crosses over its fiscal year end of June 30. On June 1,207, the university collected $600,000 in summer session tuition. The faculty salaries, the major cost for the session, were paid at the end of the summer session on August 31,207. How much tuition should be recognized as revenue in the fiscal year ended June 30,208 ? $$200,000$400,000$600,0000 A donor gave $1,000,000 to a private nonprofit college. The college's governing board decided to establish an endowment, with the intent to keep the principal intact forever. The income would be used, by action of the board, for a chaired faculty position in accountancy. The $1,000,000 would be classified as: With donor restrictions--endowment. With donor restrictions--acquisition of plant. Without donor restrictions. With donor restrictions--time restriction. Question 25 ( 2 points) When tuition for a public governmental college or university is assessed for a semester that covers more than one fiscal year: Revenue should be recognized in the fiscal year in which the revenue is collected. Revenue should be apportioned to the fiscal years similar to the way for profit organizations would allocate such revenue. Revenue should be recognized in the fiscal year in which the revenue is assessed. Revenue should be recognized in the fiscal year in which the semester is predominantly conducted