Multiple Choice
Dieter won a lottery and made a $500,000 endowment contribution to his alma mater to provide scholarships. Under the deferral method, in the year of contribution, the university should recognize the contribution as which of the following?
A) Unrestricted revenue.
B) An increase to net assets.
C) Restricted revenue.
D) Deferred revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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