Multiple Choice
If a reasonable estimate of potential refunds cannot be made, _______.
A) the firm should simply disregard any expense and handle on a case-by-case basis
B) revenue should not be recognized until the material uncertainty is resolved
C) a portion of the revenue should recognized immediately upon sale
D) no revenue recognition should occur during the life of the refund obligation
Correct Answer:
Verified
Correct Answer:
Verified
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