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.

2. A not-for-profit organization receives a restricted gift.

When, and in which type of fund, should it recognize

the revenue?

When, and in which type of fund, should

it recognize the related expense?

What is the reason for the apparent inconsistency between the fund types

in which the revenues and expenses are reported?