Income earned on restricted endowment resources should
A) remain in the endowment fund.
B) be transferred and recorded directly in the unrestricted fund.
C) be recorded in the endowment fund with a liability established for future transfer to an unrestricted fund.
D) transferred immediately and recorded directly to the fund the donor designate to receive the income/benefit.
Correct Answer:
Verified
Q21: A federal grant was received for research.Which
Q22: A public university's long-term bonds issued to
Q23: The Great Gap University issues long-term debt
Q24: Government grants which are essentially a pass-through
Q25: Grants that require performance by a private
Q27: Kelsey Nicholas contributes $80,000 to Wagner University
Q28: Westwood College is a small private
Q29: Frank Bowers decides to contribute $1,000,000 to
Q30: The quasi-endowment fund of a university would
Q31: How is a government grant accounted
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