Unrestricted current funds of a private university designated by the governing board for a specific future purpose should be reported as part of:
A) unrestricted net assets.
B) temporarily restricted net assets.
C) board-restricted net assets.
D) term endowments.

Question

Quizplus · Accepted Answer

Unrestricted current funds designated by the governing board for a specific purpose are still considered unrestricted net assets because the designation is internal and can be changed by the board.

Unrestricted Current Funds of a Private University Designated by the Governing