A not-for-profit organization receiving donated fixed assets must record those assets as temporarily restricted.

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.

A Not-For-Profit Organization Receiving Donated Fixed Assets Must Record Those