5. On December 1, 2016, a college received a pledge
5. On December 1, 2016, a college received a pledge to support a program in the following two years. Which of the following is true with respect to this pledge?
A. If the college is a private institution, the contribution revenue will be recognized within the with donor restrictions category provided the pledge is unconditional.
B. If the college is a public institution, no contribution revenue will be recognized in 2016 since the time restriction is deemed to be an unsatisfied eligibility requirement.
C. Both A and B are true
D. Neither A nor B are true
6. On December 1, 2016, a college received a pledge of support for the general endowment. Which of the following is true with respect to this pledge??
A. The contribution will be recognized as revenue in 2016 if the college is a public institution.
B. The contribution will be recognized as revenue in 2016 if the college is a private institution.
C. Both A and B are true
D. Neither A nor B are true
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