Contributions Received in a Prior Period and Restricted by the Donor

question 27

True/False

Contributions received in a prior period and restricted by the donor for construction of a building were reported as increases to "temporarily restricted net assets" in the period received.When the building is constructed in a subsequent period an NPO would report "contributions" for the amount released from restrictions.

---

Definitions:

Safety Needs

The requirement for physical security, stability, and freedom from fear, as part of Maslow's hierarchy of needs.

Maslow Hierarchy

A theory in psychology proposed by Abraham Maslow that categorizes human needs into five levels, from basic physiological needs to self-actualization.

Self-actualization

The act of fulfilling or realizing one's abilities and potential, regarded as an innate motivation.

Social

Pertains to the interaction and communication among individuals, communities, or organizations to build relationships or share information.