When a donor makes a gift that is accounted for in a Private Purpose Trust Fund,which account should be credited?

Question

Quizplus · Accepted Answer

A private purpose trust fund is a fund that is established for a specific private purpose, such as a scholarship or research project. When a donor makes a gift to such a fund, it is considered an addition to the fund, and therefore should be credited to the "Additions - donations" account.

When a Donor Makes a Gift That Is Accounted for in a Private