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

question 9

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 position at December 31?

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

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Definitions:

Price

The amount of money required to purchase a product or service; determined by factors like demand, supply, and production costs.

Morning

The period of the day from sunrise until noon.

Positive Utility

Positive utility refers to the benefit or satisfaction obtained from consuming a good or service, contributing to the overall well-being of the consumer.

Maximizing Utility

The economic principle aiming to achieve the highest level of satisfaction possible with available resources.