Which of the following receipts may properly be accounted for as an increase in unrestricted net assets by a private college?

Question

Quizplus · Accepted Answer

Student tuition and fees are unrestricted general revenues that can be used towards the general operations of the college and not restricted to any particular purpose or program.

Answer: D
 Acceptance of assets where the income is paid to the donor (such as a charitable remainder trust) also results in an increase in unrestricted net assets for the college because the assets are available for use by the college for general purposes.

Answers B and C would not be accounted for as an increase in unrestricted net assets as they are restricted to specific purposes or programs (building construction and genetic research, respectively).

Which of the Following Receipts May Properly Be Accounted for as an Increase