_____ Under FAS 117, How Would the Spending of Money Donated

Multiple Choice

_____ Under FAS 117, how would the spending of money donated in the prior year for spending in the current year be reported in the statement of activities?

A) As an expense in the temporarily restricted category.
B) As an expense in the unrestricted category.
C) As an expense in either the temporarily restricted category or the unrestricted category at the option of the nonprofit organization.
D) As a direct charge to equity.
E) None of the above.