Investment income on Endowments held by private colleges and classified as permanently restricted net assets should be recorded as an increase in:
A) Unrestricted net assets.
B) Temporarily restricted net assets.
C) Permanently restricted net assets.
D) Any of the above, depending on the terms of the trust agreement.

Question

Quizplus · Accepted Answer

The Answer of Investment income on Endowments held by private colleges and classified as permanently restricted net assets should be recorded as an increase in:
A) Unrestricted net assets.
B) Temporarily restricted net assets.
C) Permanently restricted net assets.
D) Any of the above, depending on the terms of the trust agreement.

Investment Income on Endowments Held by Private Colleges and Classified