Plant acquired by a private college with either unrestricted or restricted resources may be (1)recorded initially as unrestricted OR (2)recorded initially as temporarily restricted and then classified in accordance with the depreciation schedule.

Question

Quizplus · Accepted Answer

This statement is true. Plant acquired by a private college with either unrestricted or restricted resources can be recorded initially as either unrestricted or temporarily restricted. The classification can then be adjusted based on the depreciation schedule.

Plant Acquired by a Private College with Either Unrestricted or Restricted