Endowments Are Provided to Governments with the Specification That Only

Multiple Choice

Endowments are provided to governments with the specification that only the revenues generated from-not the contributed assets-may be used to finance specific programs.A government should recognize revenue from the initial endowment when

A) it receives the assets (cash) .
B) when it receives the pledge.
C) ratably over 30 years.
D) never.The contributions themselves cannot be used to support the government's programs.