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