In 2012,a Major Drug Company Agreed to Give a Not-For-Profit

Multiple Choice

In 2012,a major drug company agreed to give a not-for-profit private college $1,700,000 to perform testing of a new drug.An advance payment of $700,000 was received in 2012.The college was to receive $4,000 per individual test.In 2012,the college completed 100 tests.How much revenue should the college report for 2012?

A) $- 0 - .
B) $400,000.
C) $700,000.
D) $1,700,000.