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Government Net Assets Classify Receipts as Unrestricted or Not

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Determine the correct category for the following items a to d and explain your rationale (Unrestricted, Temporarily Restricted, and Permanently Restricted Net Assets):

a) Revenue from gift shop sales
b) Donor gives cash to the organization, specifying it cannot be used until the following year
c) Donor makes a pledge for current year operations but it is not yet paid
d) Donor gives organization a statue, but makes it promise to only display the statue and not sell it.

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Government Net Assets

Determine the correct category for the following items a to d and explain your rationale (Unrestricted, Temporarily Restricted, and Permanently Restricted Net Assets):

a) Revenue from gift shop sales Unrestricted Net Assets, because there is no ...

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Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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