During the Year, Dakota University's Board of Trustees Established a $500,000

question 23

Multiple Choice

During the year, Dakota University's board of trustees established a $500,000 fund to be retained and invested for scholarship grants.The fund earned $30,000, which had not been distributed by December 31.What amount should Dakota report in a Board designated quasi endowment fund's net assets at December 31?

• A)$0
• B)$30,000
• C)$500,000
• D)$530,000

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