Under FASB standards how would a not-for-profit organization recognize a conditional pledge?
A) Debit Pledges Receivable and credit Contributions-With Donor Restrictions.
B) Debit Pledges Receivable and credit Deferred Contributions.
C) Debit Conditional Pledges Receivable and Credit Deferred Contributions.
D) It would not recognize the conditional pledge until pledge conditions are substantially met.
Correct Answer:
Verified
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