When Are Unconditional Promises to Give Recognized as Revenues

question 62

Multiple Choice

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 on which they depend are substantially met.
• D) In the period in which the conditions on which they depend have begun to be met.
• E) Unconditional promises from potential donors are not revenues.

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Definitions:

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The percent difference between the closing price of a security on the trading day and its closing price on the previous day.

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