Fixed Assets May Be Recorded by a Private Not-For-Profit as Temporarily

question 89

True/False

Fixed assets may be recorded by a private not-for-profit as temporarily restricted or unrestricted, depending on the policy of the organization.

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Definitions:

Government Funds

Financial resources collected and allocated by the government for its operational and developmental activities.

Nonprofit Organizations

Organizations that operate to fulfill a mission or purpose rather than to generate profit for owners or shareholders, often focusing on social, charitable, cultural, or educational objectives.

Private Funds

capital pooled from private individuals or entities for the purpose of investment, typically in ventures or projects that are not public.

Indirect Costs

Expenses not directly tied to the production of goods or services but necessary for the general operation of an organization, such as administrative expenses or utilities.