Sydney Won a Lottery and Made a $500,000 Endowment Contribution

question 36

Multiple Choice

Sydney won a lottery and made a $500,000 endowment contribution to his alma mater to provide scholarships. Under the deferral method, in the year of contribution, the university should recognize the contribution as which of the following?

• A)Unrestricted revenue
• B)Restricted revenue
• C)Deferred revenue
• D)An increase to net assets

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Definitions:

Body Temperature

The measure of the body's ability to generate and get rid of heat, vital for the proper functioning of the body.

Prefrontal Cortex

The front part of the frontal lobe of the brain, involved in decision making, social behavior, and personality expression.

Amygdala

A part of the brain's limbic system, involved in emotion regulation, especially fear, and memory processing.

Language

A system of spoken, written, or signed symbols through which humans communicate thoughts, feelings, ideas, and information.