Arc Hospital received an unconditional pledge of $1 million, which will be paid in four installments of
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Question:
- Arc Hospital received an unconditional pledge of $1 million, which will be paid in four installments of $250,000 over four years. What amount of installment pledge revenue should be recognized in the first year (i.e., when the unconditional pledge was made)?
- Select one:
- a. $1,000,000
- b. $250,000
- c.$500,000
- d. $0
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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