The account title "Resources Released from Restriction" is reported by an unrestricted "fund" as a
A)Revenue account.
B)Contra-revenue account.
C)Expense account.
D)Contra-expense account.

Question

Quizplus · Accepted Answer

The account title "Resources Released from Restriction" indicates that funds that were previously restricted have now become unrestricted. Therefore, this account represents an increase in resources available for the unrestricted fund, which is reported as revenue. Therefore, choice A is the best answer.

The Account Title "Resources Released from Restriction" Is Reported by an Unrestricted