Question

public colleges use what and typically engage in business type activities, they present only the F/s required_____________

Answer 1

Public colleges engage in business type activities and present the required financial statements to ensure transparency and accountability.

Step-by-step explanation:

Public colleges typically engage in business type activities and present only the financial statements (F/S) required. They use various accounting principles and standards to track and report their financial information.

For example, colleges may use accrual accounting to recognize revenue when it is earned and expenses when they are incurred. They may also use the Generally Accepted Accounting Principles (GAAP) to ensure consistency and comparability in financial reporting.

By presenting the required financial statements, colleges can provide transparency and accountability to stakeholders such as the government, students, and donors.