In 2014,a Major Drug Company Agreed to Give a Not-For-Profit

Multiple Choice

In 2014,a major drug company agreed to give a not-for-profit private college $300,000 to perform testing of a new drug.An advance payment of $200,000 was received in 2014.The college was to receive $1,500 per individual test.In 2014,the college completed 100 tests.How much revenue should the college report for 2014?

A) $ 300,000
B) $ 200,000
C) $ 150,000
D) $ 100,000