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One of the major criticisms of differential association has been that it is fairly abstract and therefore the major concepts are ________________.
Endowment Contributions
Donations endowed to an institution meant for investment to provide a continuous source of funding.
Externally Restricted
Pertains to funds or resources that are subject to restrictions regarding their use, imposed by external parties or agreements.
Deferral Method
An accounting method whereby revenue or expenses are postponed to future accounting periods to match revenues with expenses in the period in which they occur.
Encumbrance System
A financial accounting system that tracks commitments made against budgeted funds before actual expenditures are recorded.
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