When are unconditional promises to give recognized as revenues?
A) In the period the promise is received.
B) In the period the promise is collected.
C) In the period in which the conditions upon which they are contingent are substantially met.
D) In the period in which the conditions upon which they are contingent have begun to be met.
E) Unconditional promises from potential donors are not revenues.

Question

Quizplus · Accepted Answer

Unconditional promises to give are recognized as revenues in the period the promise is received, as they represent a commitment from the donor that is not contingent on any future events.

When Are Unconditional Promises to Give Recognized as Revenues