For private colleges and universities,reclassifications of temporarily restricted and unrestricted net assets could be made:
A) For satisfaction of purpose restrictions.
B) When time restrictions expire.
C) If the resources donated for fixed assets have been expended on such assets.
D) all of the above.

Question

Quizplus · Accepted Answer

Reclassifications of temporarily restricted and unrestricted net assets in private colleges and universities can be made for the satisfaction of purpose restrictions, when time restrictions expire, and when resources donated for fixed assets have been expended on such assets. Therefore, all of the above options are correct.

For Private Colleges and Universities,reclassifications of Temporarily Restricted and Unrestricted