If a not-for-profit organization uses the restricted fund method of reporting and has an endowment fund, how should an endowment contribution be reported?
A) As revenue in the general fund.
B) As revenue in the endowment fund.
C) As a direct increase in net assets in the general fund.
D) As a direct increase in net assets in the endowment fund.
Correct Answer:
Verified
Q21: Which of the following is NOT a
Q22: NFPOs receive different types of contributions. Which
Q23: A not-for-profit organization receives a restricted contribution
Q24: Which of the following is NOT among
Q25: If a not-for-profit organization uses the restricted
Q27: If a not-for-profit organization has revenues in
Q28: A not-for-profit organization receives a restricted contribution
Q29: A not-for-profit organization receives a restricted contribution
Q30: Net assets could be broken down into
Q31: Which of the following is NOT a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents