A donor gives Charity One $50,000 in cash with the instructions to convey the money to Charity Two. According to the agreement, the donor can reconsider and revoke the gift at any time prior to its transfer to Charity Two. Which of the following statements is true?

a. Charity One should report a contribution revenue.

b. The donor continues to report an asset even after the money is given to Charity One.

c. As soon as the money is conveyed to Charity One, Charity Two should recognize contribution revenue.

d. As soon as the money is conveyed to Charity One, Charity Two should recognize an asset.