Describe any circumstances entity may engage in activities

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Imagine that you work in the accounting department of a university and your boss has asked you to explain components of revenue, expenses, and changes in net asset that are reported on the university's statement of revenues.

Problem 1: Discuss at least two unique situations or transactions that you may encounter.

Problem 2: Describe any circumstances the entity may engage in activities that result in Unrelated Business Income Tax (UBIT).

Reference no: EM132833589

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