A private sector, not-for-profit hospital received a pledge of $100,000 in 2016, with no purpose restriction. The pledge card indicated that the funds were to be paid and used in 2017. Cash was turned over to the hospital in 2017. The not-for-profit hospital would recognize contribution revenue in:
A) When the funds are expended.
B) 2016.
C) 2017.
D) Either 2016 or 2017, depending on the policy of the hospital.
Correct Answer:
Verified
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