For the 20X7 fall semester, Brook Public University assessed its students $4,000,000 (net of refunds), covering tuition and fees for educational and general purposes. However, only $3,700,000 was expected to be realized because tuition remissions of $80,000 were allowed to faculty members’ children attending Brook, and scholarships totaling $220,000 were granted to students.

The following receipts are among those recorded by Curry Private College during 20X9:

Unrestricted gifts

$500,000

Restricted gifts (expended for current operating purposes)

200,000

Restricted gifts (not yet expended)

100,000

The amount that should be included in revenues is:

a. $800,000

b. $700,000

c. $600,000

d. $500,000

Public and private schools, multiple choice. Select the best answer for each of the following multiple-choice items dealing with universities: