During the Current Year a Not-For-Profit Entity Received a Contribution

question 6

Multiple Choice

During the current year a not-for-profit entity received a contribution of $100,000 to use for scholarships.In the current year the entity had already budgeted $400,000 for scholarships.During the current year, the entity disbursed $350,000 for scholarships.The amount the entity can consider as 'released from restriction' in the current year is

• A)$0.
• B)$100,000.
• C)$350,000.
• D)$400,000.