According to the rules for accounting for colleges and universities under the jurisdiction of the FASB,if both unrestricted and restricted resources are available for a restricted purpose,the FASB requires that the institution recognize the use of unrestricted resources first.

Question

Quizplus · Accepted Answer

The FASB does not mandate the order of using unrestricted or restricted resources; institutions can establish their own policies for resource utilization.

According to the Rules for Accounting for Colleges and Universities