Henry Highbrow promises to donate $50,000 to his church toward the purchase of a new pipe organ
Fantastic news! We've Found the answer you've been seeking!
Question:
Henry Highbrow promises to donate $50,000 to his church toward the purchase of a new pipe organ if the church is able to raise matching funds of $50,000 from other contributors. At what point should the church record revenue?
A) When Henry makes his pledge, so long are collection is reasonably assured.
B) When the organ is purchased.
C) When the matching funds are raised.
D) When Henry pays the $50,000 to the church.
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt , Eugene F. Brigham
Posted Date: