The Smith Family Contributed $200,000 to a Local College to Establish

Multiple Choice

The Smith family contributed $200,000 to a local college to establish a scholarship fund in the name of their late father. Scholarships will be provided from the fund earnings. This is best described as which kind of contribution?

A) Internally restricted contribution
B) Externally restricted contribution
C) Endowment contribution
D) Unrestricted contribution