Question

Unrestricted gift and bequest an investment income for current unrestricted purposes may be reported as either operating or non-operating revenue, depending on the policy of the entity. True or false

Answer 1

Unrestricted gifts and bequests, along with investment income for current unrestricted purposes, can be reported as either operating or non-operating revenue, depending on the entity's policy.

Step-by-step explanation:

An unrestricted gift and bequest, as well as investment income for current unrestricted purposes, may be reported as either operating or non-operating revenue, depending on the policy of the entity. This means that the entity has the flexibility to categorize these funds based on its guidelines and procedures.