How should endowment investments that are permanent in nature be reported on a university Statement of Net Position? a. As a noncurrent asset b. As a current or noncurrent asset as per the donor’s specification c. As a current asset d. As part of the university’s general cash and investments 7. Scholarships for students’ tuition and fees that are being paid from grants the university received (on the students’ behalf) should be reported as a. a reduction of tuition and fee revenues. b. expenses in the GAAP financial statements. c. expenditures in the GAAP financial statements. d. nonoperating expenses in the GAAP financial statements.