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. Neither If the college is a private institution, the contribution revenue will be recognized within the temporarily restricted category provided the pledge is unconditional nor If the college is a public institution, no contribution revenue will recognized in 2016 since the time restriction is deemed to be an unsatisfied eligibility requirement is true.
B. If the college is a private institution, the contribution revenue will be recognized within the temporarily restricted category provided the pledge is unconditional.
C. Both If the college is a private institution, the contribution revenue will be recognized within the temporarily restricted category provided the pledge is unconditional and If the college is a public institution, no contribution revenue will recognized in 2016 since the time restriction is deemed to be an unsatisfied eligibility requirement are true.
D. If the college is a public institution, no contribution revenue will recognized in 2016 since the time restriction is deemed to be an unsatisfied eligibility requirement.
Answer: C
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