Question: A private not - for - profit organization received a gift of $ 4 6 0 , 0 0 0 with purpose restrictions in 2

A private not

-

for

-

profit organization received a gift of $

460, 000

with purpose restrictions in

2019 .

2020

funds were expended for the purpose outlined in the gift, however, it was not possible to determine whether the restricted funds or unrestricted funds were used. The presumption should be:

Multiple Choice

the unrestricted funds would have been used first.

the restricted funds would have been used first.

the restricted funds and unrestricted funds would have been used equally.

the restricted funds and unrestricted funds would have been used, based on a weighted average of the amounts.

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