An intention to give is the same as an unconditional promise to give and can be recorded as revenue when the intention is made known.

Name: An intention to give is the same as an unconditional promise to give and can be recorded as revenue when the intention is made known.
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Question

Quizplus · Accepted Answer

An intention to give is not the same as an unconditional promise to give. An intention to give is not a binding commitment and should not be recorded as revenue until the actual gift is received.

An Intention to Give Is the Same as an Unconditional