Summary: Textbook Exercises
Textbook Exercises
Mary Kahm
ACC/460
January 14, 2012
Paulette Mack
1. Provide examples of resources that are temporarily restricted as to: (a) purpose; (b) time; and (c) the occurrence of a specific event. Provide an example of permanently restricted resources.
An example of resources that are temporarily restricted to purpose might include those that are used for the purchase of plant and equipment, or used for research purposes. Resources that may be temporarily restricted to time might be term endowments by which only the income is going to be available for expenditure for a specific time period. Resources that are temporarily restricted as to the occurrence of a specific event might include annuities which are considered to
Mary Kahm
ACC/460
January 14, 2012
Paulette Mack
1. Provide examples of resources that are temporarily restricted as to: (a) purpose; (b) time; and (c) the occurrence of a specific event. Provide an example of permanently restricted resources.
An example of resources that are temporarily restricted to purpose might include those that are used for the purchase of plant and equipment, or used for research purposes. Resources that may be temporarily restricted to time might be term endowments by which only the income is going to be available for expenditure for a specific time period. Resources that are temporarily restricted as to the occurrence of a specific event might include annuities which are considered to