_____ Under FAS 117, Income Earned from Endowments (Permanent) That Can

Multiple Choice

_____ Under FAS 117, income earned from endowments (permanent) that can be spent on only certain programs and that was spent in the year earned would be reported in the statement of activities in the

A) Permanently restricted category.
B) Temporarily restricted category.
C) Unrestricted category.
D) Temporarily restricted category or unrestricted category.
E) Permanently restricted category or unrestricted category.