Multiple Choice
The Xavier family contributed $300,000 to a local university to establish a scholarship fund in the name of their late mother. Scholarships will be provided from the fund earnings. This is BEST described as which kind of contribution?
A) Endowment contribution.
B) Internally restricted contribution.
C) Externally restricted contribution.
D) Unrestricted contribution.
Correct Answer:
Verified
Correct Answer:
Verified
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