Which of the following is not an example of Educational and General Revenue in a college or university?
a. student athletic fees
b. room and board fees received by the dormitory
c. governmental grants
d. endowment income
b
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Which of the following is the basic internal control measure for cash?
A) keeping money in a bank account B) checking for counterfeit bills C) counting cash receipts twice D) internal audit of cash procedures
Which of the following is a true statement about the domestic production activities deduction?
A. This deduction is determined by the amount of goods manufactured in the United States for export abroad. B. The deduction is calculated as a percentage of the cost of goods manufactured in the United States. C. This deduction represents a subsidy to taxpayers who manufacture or construct goods in the United States. D. The domestic production activities deduction is not affected by the cost of labor. E. All of these are true.