Fixed assets may be recorded by a private not-for-profit as temporarily restricted or unrestricted, depending on the policy of the organization.

Question

Quizplus · Accepted Answer

With the exception of collections, fixed assets may be recorded as either temporarily restricted or unrestricted, depending on the policy of the organization. This is true both when an asset is acquired with temporarily restricted resources and when it is acquired with restricted resources.

Fixed Assets May Be Recorded by a Private Not-For-Profit as Temporarily