Choice "D" is correct. Quasi-endowment funds account for assets that have been internally designated by the institution for a specific purpose. Quasi-endowment funds would be displayed as unrestricted net assets on externally published financial statements.
Choice "c" is incorrect. Endowment funds are funds for which outside donors have stipulated that the principal is to be maintained intact in perpetuity. Endowment funds would be reported externally as permanently restricted net assets.
Choice "a" is incorrect. Term endowment funds are funds for which outside donors have stipulated that the principal is to be maintained intact for a specified term or until the happening of some event. Term endowment funds would be reported externally as temporarily restricted net assets.
Choice "b" is incorrect. The restricted current fund accounts for current assets that are outside donor-restricted for a specific purpose. Restricted current funds are externally reported as temporarily restricted net assets.