Which of the following receipts should be recorded in the restricted-current fund of a public university?

Question

Quizplus · Accepted Answer

Cash donations to provide scholarships should be recorded in the restricted-current fund of a public university, as they are a type of restriction that can only be used for a specific purpose. Option A is not a restriction as faculty travel could be funded from multiple sources, while options B and D involve creating a new fund or transferring funds to a permanent endowment, which would not be recorded in the current fund.

Which of the Following Receipts Should Be Recorded in the Restricted-Current