Contributions Received in a Prior Period and Restricted by the Donor

question 45

True/False

Contributions received in a prior period and restricted by the donor for construction of a building were reported as increases to net assets with donor restrictions in the period received. When the building is constructed in a subsequent period a not-for-profit would report contributions for the amount released from restrictions.

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Definitions:

Stagnation

A period in adult development, defined by Erik Erikson, characterized by a lack of personal growth or contribution to the welfare of others, often seen in middle adulthood.

Next Generation

Refers to the upcoming group of people who follow the current group, often in the context of family lineage, technology development, or cultural shifts.

Midlife Crisis

A psychological crisis occurring in middle age, characterized by emotional turmoil, identity questioning, and lifestyle changes.

Berkeley Longitudinal Studies

A series of research projects that followed the development of children into adulthood, focusing on various psychological aspects.