Question

Nongovernmental not-for-profit entities recognize a conditional promise to give when

Answer 1

Answer:

C) The conditions are met.

Explanation:

A conditional promise is a promise that depends on the occurrence of one or more future events (conditions) before it becomes an obligation for the promisor. In order for the promise to be recognized by the not-for-profit entity, the conditions established must be met, therefore the conditional promise becomes an unconditional promise.

For example, it the promisor promises to give the entity $100,000 in case he sells his house, then the promise will be recognized when the promisor's house is sold.