A sale should not be recognized as revenue by the seller at the time of sale if
a. payment was made by check.
b. the selling price is less than the normal selling price.
c. the buyer has a right to return the product and the amount of future returns cannot be reasonably estimated.
d. none of these.
Ans: c. the buyer has a right to return the product and the amount of future returns cannot be reasonably estimated.
You might also like to view...
The Red Baron Gallery has provided funding to Georgia Public Television to help pay for the rights to broadcast the Antiques Roadshow and is credited at the beginning of the show for its financial support. This is an example of ________
A) ambient advertising B) a special event C) a sponsorship D) a sales promotion E) guerilla marketing
Malicious and destructive programs cause millions of dollars of loss to corporations annually
Indicate whether the statement is true or false