Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

تمرين 56

The Jones family lost its home in a fire. On December 25, 2015, a philanthropist sent money to the Amer Benevolent Society, a private not-for-profit entity, specifically to purchase furniture for the Jones family. During January 2016, Amer purchased furniture for the Jones family. How should Amer report the receipt of the money in its 2015 financial statements
a. As an unrestricted contribution.
b. As a temporarily restricted contribution.
c. As a permanently restricted contribution.
d. As a liability.