An alumnus donates securities to a private college and stipulates that the principal be held in perpetuity
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Question:
An alumnus donates securities to a private college and stipulates that the principal be held in perpetuity and income from the securities be used for faculty travel. Dividends received from the securities should be recognized as increases in
A. Endowments.
B. Unrestricted net assets.
C. Permanently restricted net assets.
D. Temporarily restricted net assets.
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0078034640
7th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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