Multiple Choice
A local antique shop pledged 10% of its sales on July 1 to Fresh Start, a not-for-profit organization. How should Fresh Start treat this pledge?
A) Accrue the pledge only if there is reasonable assurance that the antique shop will pay.
B) Accrue the pledge when it is made.
C) Recognize the pledge when it is collected.
D) Accrue the pledge only if the amount can be reasonably estimated.
Correct Answer:
Verified
Correct Answer:
Verified
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