Multiple Choice
Alfred House, a not-for-profit organization, received an externally restricted contribution. Alfred House does not have a separate restricted fund for the contribution. Under the restricted fund method, the contribution will be recognized as which of the following?
A) Revenue in the general fund for unrestricted contributions.
B) A direct increase to net assets.
C) Revenue in the endowment fund.
D) Revenue in the general fund using the deferral method.
Correct Answer:
Verified
Correct Answer:
Verified
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