Endowment fund: The endowment fund accounts for gifts or with legal restrictions that principal be maintained as permanently restricted. Various conditions are possible, depending upon the desires of contributor. Endowment fund investment revenue may be restricted or unrestricted. Income is recorded directly in the fund that is to receive it. Such income is not subjected to any restrictions by principal donor may be recorded directly in the current unrestricted fund as unrestricted investment revenue. The best option

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Chapter 19, Problem 19.1.9P

To determine

Introduction:

Endowment fund:

The endowment fund accounts for gifts or with legal restrictions that principal be maintained as permanently restricted. Various conditions are possible, depending upon the desires of contributor.

Endowment fund investment revenue may be restricted or unrestricted. Income is recorded directly in the fund that is to receive it. Such income is not subjected to any restrictions by principal donor may be recorded directly in the current unrestricted fund as unrestricted investment revenue.

The best option

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