Unconditional promises to give that are restricted for the purpose of acquiring fixed assets should be recognized
Question:
Unconditional promises to give that are restricted for the purpose of acquiring fixed assets should be recognized as contributions revenue by nongovernment VHWOs and ONPOs in the period(s) that:
a. the unconditional promises are made.
b. the promised amounts are received.
c. the donated resources are used to acquire the fixed assets.
d. the assets purchased with the donated resources are used.
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Related Book For
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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