Question $1(10$ points$)$

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A not$-$for$-$profit university operates its college bookstore as an auxiliary enterprise. During the year the$$store has revenues of $$20$ million and expenses of $$18$ million. In its statement of activities the university should report

Question $1$ options:

operating revenues of $$2$ million

operating revenues of $$20$ million

nonoperating revenues of $$20$ million

nonoperating revenues of $$2$ million