Assets Set Aside for an Endowment by a University Governing

question 61

True/False

Assets set aside for an endowment by a university governing board would be reported as unrestricted.

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Definitions:

Fireplace

A structure within a home or building designed to contain a fire for heating and, in many cases, cooking.

Alexander Calder

An American sculptor known for inventing the mobile, a type of kinetic sculpture that moves with air currents.

Mobile

A kind of sculpture, invented by Alexander Calder, combining nonobjective organic forms and motion in balanced structures hanging from rods, wires, and colored, organically shaped plates.

Kinetics

The branch of physics that deals with the motion of objects and the forces that cause this motion, or, in art, works that incorporate movement as part of their design.