Question

Unrestricted current funds of a private university designated by the governing board for a specific future purpose should be reported as part of:
A) Net assets without donor restrictions.
B) Net assets with donor restrictions.
C) Board-restricted net assets.
D) Term endowments.

Answer 1

Answer:

A) Net assets without donor restrictions.

Explanation:

According to my research on IRS requirements, I can say that based on the information provided within the question this should be reported as part of Net assets without donor restrictions. Net Assets are defined as the value of an entity's assets minus the value of its liabilities.

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