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While Talking on the Phone,you Notice Your Cat Heading for an Expensive

question 34

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While talking on the phone,you notice your cat heading for an expensive vase on the end table.You race to retrieve the cat,and when you return to the phone,you have no idea what you were talking about.Why did you forget?


Definitions:

Permanently Restricted Endowment

A type of endowment fund that a donor restricts in perpetuity; the principal cannot be spent, but the investment earnings can be used for designated purposes.

Financial Assets

Assets that derive value because of a contractual claim, such as stocks, bonds, and bank deposits.

Physical Assets

Tangible or material assets owned by an individual or company, such as buildings, machinery, or land.

Uniform Prudent Management

This term refers to the guidelines and principles for managing nonprofit and trust assets responsibly and prudently, ensuring that they are used effectively to fulfill the organization's mission.

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