A Nongovernment, Not-For-Profit Organization Received $5,000,000 of Unconditional Pledges During

Multiple Choice

A nongovernment, not-for-profit organization received $5,000,000 of unconditional pledges during 2013 that had not been collected by year end. In its 2013 statement of activities, the organization should recognize

A) No revenues, but should report receivables and deferred revenues in its balance sheet.
B) Revenues without donor restrictions of $5,000,000.
C) Revenues with donor restrictions of $5,000,000.
D) Other financing sources of $5,000,000.