4. An alumnus donates securities to Rex Private College and stipulates that the principal be held in perpetuity and revenues be used for faculty travel. Dividends received from the securities should...

4. An alumnus donates securities to Rex Private College and stipulates that the principal be held in perpetuity and revenues be used for faculty travel. Dividends received from the securities should be recognized as revenues in

a. endowment funds.

b. quasi-endowment funds.