A Donor Gave a Gift of $40,000 Cash to a Private

A donor gave a gift of $40,000 cash to a private college in 2011 with instructions that the funds be expended for psychology research.The funds were expended in 2012.The private college would recognize the $40,000 as:

A) Deferred revenue in 2011 and as revenue in 2012, increasing unrestricted net assets. The expense would be recognized in 2012.
B) Deferred revenue in 2011 and as revenue in 2012, increasing temporarily restricted net assets. The expense would be recognized also in 2012, and the resources would be reclassified from temporarily restricted net assets to unrestricted net assets in 2012.
C) Either (b) or (c) , depending upon the policy of the private college.
D) Revenue in 2011 increasing temporarily restricted net assets; recognize the expense in 2012, and reclassify the resources from temporarily restricted net assets to unrestricted net assets in 2012.