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Which of the following is true about Restricted funds:

Segregation of duties is an important internal control activity. What three responsibilities should be separated when managing cash in an organization?

It is important to distinguish between base budget impacts and one-time budget impacts when preparing a budget in a University setting.

Which of the following events does not have a base budget impact to the University?

It is expensive to deliver quality higher education. Which of the following is not a contributing factor to this phenomenon:

Technology costs constitute a rapidly growing portion of the typical University budget.

Facilities costs in Higher Education are increasing primarily due to:

Which best describes the concept of balance sheet equity (fund balance)

A budget is an absolute guarantee of resources.

Management is ultimately responsible for internal controls in an organization.