6. At the beginning of 2017, a private not-for-profit museum receives a donation of equity securities valued at S10,000,000. The donor specifies that the securities be held as a permanent endowment, and income from the securities is restricted to the purchase of Native American artifacts. The securities have a fair value of $9,500,000 at the end of 2017. The museum reports the $500,000 decline in the value of the securities as LO 3 a reduction in permanently restricted net assets a. b. a reduction in temporarily restricted net assets a reduction in unrestricted net assets. not reported. c. d. 7, At the beginning of 2017, a private not-for-profit m useum receives a donation of $10,000,000. The donor specifies that the donation be held as a permanent endowment, and income from its investment can be used for any purpose. The museum invests the $10,000,000 in equity securities. The securities have a fair value of $9,500,000 at the end of 2017. The museum reports the $500,000 decline in the value of the securities as LO 3 a. b. c. d. a reduction in permanently restricted net assets. a reduction in temporarily restricted net assets. a reduction in unrestricted net assets not reported 6. At the beginning of 2017, a private not-for-profit museum receives a donation of equity securities valued at S10,000,000. The donor specifies that the securities be held as a permanent endowment, and income from the securities is restricted to the purchase of Native American artifacts. The securities have a fair value of $9,500,000 at the end of 2017. The museum reports the $500,000 decline in the value of the securities as LO 3 a reduction in permanently restricted net assets a. b. a reduction in temporarily restricted net assets a reduction in unrestricted net assets. not reported. c. d. 7, At the beginning of 2017, a private not-for-profit m useum receives a donation of $10,000,000. The donor specifies that the donation be held as a permanent endowment, and income from its investment can be used for any purpose. The museum invests the $10,000,000 in equity securities. The securities have a fair value of $9,500,000 at the end of 2017. The museum reports the $500,000 decline in the value of the securities as LO 3 a. b. c. d. a reduction in permanently restricted net assets. a reduction in temporarily restricted net assets. a reduction in unrestricted net assets not reported