Multiple Choice
With respect to the endowment fund, which of the following statements is TRUE?
A) Endowment contributions are recognized as a direct increase to net assets under the deferral method and as revenue to the endowment fund under the restricted fund method.
B) Endowment contributions are treated the same way under both the deferral method and the restricted fund method.
C) Endowment contributions are recognized as revenue under the deferral method and as revenue in a restricted fund under the restricted fund method.
D) Endowment contributions are recognized as revenue under the deferral method and as a direct increase to net assets under the restricted fund method.
Correct Answer:
Verified
Correct Answer:
Verified
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