Not-for- profit organizations must recognize revenue from a pledge in the year in which the money is received.

Name: Not-for- profit organizations must recognize revenue from a pledge in the year in which the money is received.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Not-for-profit organizations must recognize revenue from a pledge when it is legally enforceable, meaning when the donor has made an irrevocable commitment to donate the funds. This may or may not be the same year in which the money is received.

Not-For- Profit Organizations Must Recognize Revenue from a Pledge in the Year