Register
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
191k views
1 vote
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
by
6.1k points

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
by
6.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.6m questions

8.8m answers

Other Questions

One reason that businesses want to combine with other businesses is to A. avoid taxes. B. delay expenses. C. hire more workers. D. reduce expenses.
Which of the following possesses the sole power to create revenue bills?
Which of the following is an example of a fixed expense? A.) Clothing B.) Rent C.) Food D.) Entertainment
A ______ is "the basic interpretive mechanism to let people know what an organization is doing and are sent out to editors and reporters in hopes of stimulating favorable stories about their organizations"
All of the following are fees typically charged by credit card companies EXCEPT: A. Late payment fee B. Balance Transfer fee C. Annual membership fee D. Reload fee
Link Copied!