An alumnus donates securities to Rex Private College and stipulates that the principal be held in perpetuity and revenues be used for faculty travel. Dividends received from the securities should be recognized as revenues in a. endowment funds. b. quasi-endowment funds. c. restricted current funds. d. unrestricted current funds.

An alumnus donates securities to Rex Private College and stipulates that the principal be held in perpetuity and revenues be used for faculty travel. Dividends received from the securities should be recognized as revenues in a. endowment funds. b. quasi-endowment funds. c. restricted current funds. d. unrestricted current funds.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 2BCRQ

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