Final answer:
Deferred Revenue is the item partly capitalized and partly recognized as revenue in the financial statements of a non-profit organization. It is a liability reflecting the obligation to deliver services or goods that have been prepaid by customers.
Step-by-step explanation:
An item which is partly capitalized and partly recognized as a revenue item in the financial statement of a non-profit organization is known as d) Deferred Revenue. A deferred revenue item arises when an organization receives payment in advance for services or goods to be provided in the future. The portion of the payment that corresponds to the services or goods yet to be delivered is recorded as a liability on the balance sheet, reflecting an obligation to deliver. Over time, as the services are performed or goods delivered, the deferred revenue is recognized as revenue on the financial statements.
Assets are items of value that a firm or an individual owns, such as cash, inventory, and property. Liabilities indicate what a company owes, like loans and accounts payable. When an asset-liability time mismatch occurs, it means there is a discrepancy between the timing of when a bank can use its assets and when it owes its liabilities. For example, customers can withdraw savings (the bank's liabilities) at almost any time, but the loans the bank gives out (its assets) are repaid over a longer term.