Revenue from nonexchange transactions may be recognized in all of these circumstances,except
A)When the underlying transaction has occurred and the resources are available.
B)In the period for which property taxes are levied.
C)When all eligibility requirements have been met.
D)A purpose restriction imposed by a grantor has been met.

Question

Quizplus · Accepted Answer

Revenue from nonexchange transactions is recognized when all eligibility requirements are met, not when a purpose restriction is met. Purpose restrictions affect how resources are used, not when revenue is recognized.

Revenue from Nonexchange Transactions May Be Recognized in All of These