The Term "Restricted" as Used in University Accounting Refers to a Constraint

question 110

Multiple Choice

The term "restricted" as used in university accounting refers to a constraint on the use of funds which has been:
I.internally imposed.
II.externally imposed.

• A)I only
• B)II only
• C)Either I or II
• D)Neither I nor II

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Definitions:

Split-off Point

The stage in a process manufacturing at which various products become separately identifiable and can be handled as distinct items.

Joint Process

A production process in which two or more products are generated simultaneously from the same raw materials or input.

Vertical Integration

The involvement by a company in more than one of the activities in the entire value chain from development through production, distribution, sales, and after-sales service.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.