Funds That Are Restricted for a Certain Number of Years

question 98

True/False

Funds that are restricted for a certain number of years and then released are considered to be term endowments and are classified as temporarily restricted funds by private colleges and universities.

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Definitions:

Production

The process of creating, growing, manufacturing, or improving goods and services.

Production Possibility Curve

A graphical representation showing the maximum combination of goods and services that can be produced with a given set of resources and technology.

Comparative Advantage

The aptitude of any individual, corporation, or country for producing a good or offering a service at an opportunity cost that is reduced in comparison to that of the competition.

Specialization

The process of focusing resources on the activities that lead to the greatest efficiency and output in production or services.