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A donor pledged $500,000 to a not-for-profit hospital in 2016 to conduct medical research, conditional on the hospital raising $500,000 from other donors. The other donors met the condition in 2016. The
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A donor pledged $500,000 to a not-for-profit hospital in 2016 to conduct medical research, conditional on the hospital raising $500,000 from other donors. The other donors met the condition in 2016. The donor transferred the funds to the hospital in 2017. In which year would the revenue be recognized?

A) 2004
B) 2005.
C) 2003.
D) None of the above

User Toan Quoc Ho
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1 Answer

3 votes

Answer:

A) 2004

Explanation: A pledge with no restrictions, however conditional on receiving matching pledges will not be recognized in the year pledge was made. The correct answer is A) 2004

User Severin Klug
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