An alumnus donates securities to a private college and stipulates that the principal be held...

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Accounting

An alumnus donates securities to a private college and stipulates that the principal be
held in perpetuity and income from the securities be used for faculty travel. Dividends
received from the securities should be recognized as increases in:
Deferred revenue.
Net assets without donor restrictions.
Endowments.
Net assets with donor restrictions.
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