Al Alumni donates $5,000,000 to Great University for a new Women's Studies program.Al wants the principal to remain intact but the investment earnings can be expended to support the Women's Studies Program.This donation would be accounted for in the

Question

Quizplus · Accepted Answer

An endowment fund is designed to provide long-term support to a specific program or purpose. It allows the principal to remain intact and only the investment earnings can be used to support the designated program or purpose. As the donor intends to keep the principal intact and only use the investment earnings to support the Women's Studies program, an endowment fund would be the best choice for accounting for this donation.

Al Alumni Donates $5,000,000 to Great University for a New