Question: Chicago Museum, a private nonprofit organization, has both regular and term endowments. On the museums statement of financial position (balance sheet), how should the net

Chicago Museum, a private nonprofit organization, has both regular and term endowments. On the museum’s statement of financial position (balance sheet), how should the net assets of each type of endowment be reported?

Term endowments Regular endowments

a. Temporarily restricted Permanently restricted

b. Permanently restricted Permanently restricted

c. Unrestricted Temporarily restricted

d. Temporarily restricted Temporarily restricted

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