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

For private colleges and universities, reclassifications from temporarily restricted to unrestricted net assets are reported when the donor's restrictions purpose, time or plant requirements) have been met.

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