Assets set aside by the governing board for the eventual construction of a hospital addition should be recorded as "assets limited as to use."

Question

Quizplus · Accepted Answer

Assets set aside for a specific purpose, such as the construction of a hospital addition, should be recorded as "assets limited as to use" to ensure that they are not used for any other purpose. This helps to ensure the accuracy and reliability of the organization's financial statements.

Assets Set Aside by the Governing Board for the Eventual