During the year a donor pledged $1,000,000 in funds to a not-for-profit private charter school. The school will receive the pledge if it is able to raise $500,000 in funds over the next year. According to the FASB, how would this pledge be recorded?
A) Contribution-With Donor Restrictions.
B) Contribution-Without Donor Restrictions.
C) Deferred Revenue.
D) It would not be recorded.
Correct Answer:
Verified
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