Which of the Following Statements Is Correct

question 30

Multiple Choice

Which of the following statements is correct?

• A) Endowments are donations that are received with the provision that it will be invested and only the investment income may be spent by the organization.
• B) Endowments are unrestricted donations which can be used for any purposes that are consistent with the goals and objectives of the not-for-profit organization.
• C) Endowments are provided as donations which only allow a not-for-profit organization to invest in other not-for-profit organizations only.
• D) Endowments may be restricted and unrestricted funds which must be used in accordance with the wishes of the contributor and only available during the life of the donor.

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Definitions:

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A systematic process for describing and quantifying the duties, responsibilities, and skills required for a specific job, using a consistent procedure or format.

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