A private,not-for-profit hospital uses a fund structure which includes a general fund and donor restricted funds.Contributions received from donors for research to be conducted by the hospital should be accounted for in the:

Question

Quizplus · Accepted Answer

Contributions received from donors for research should be accounted for in a specific purpose fund because they are designated for a particular use. This ensures that the hospital uses the funds only for the intended purpose specified by the donor. A time-restricted fund is used for contributions that are designated for use within a specified period. General fund and restricted current fund are not appropriate because they do not segregate the funds for a specific purpose.

A Private,not-For-Profit Hospital Uses a Fund Structure Which Includes a General