The Victoria Fund, a child welfare fund, received $50,000 in cash in 2018. The donor requires the gift be held in perpetuity and that the income from investing this money may be used for its program of promoting adoption of young girls. How should the gift be reported in the Victoria Fund's financial statements?
A) As cash and as contribution revenue-support without donor restrictions
B) As cash and as contribution revenue-support with donor restrictions
C) As a footnote only, until the time restriction is met
D) As either a or b, provided the nonprofit does so consistently
Correct Answer:
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