Which of the Following Is Not True About Deferred Revenue

question 20

Multiple Choice

Which of the following is not true about deferred revenue?

• A) Deferred revenue with respect to gift cards is recognized as revenue when the gift cards expire.
• B) Deferred revenue is a liability.
• C) Deferred revenue is recognized on credit sales when collectibility can be estimated.
• D) Customer prepayments typically require recognition of deferred revenue.

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Definitions:

Nightmares

Disturbing dreams that cause the dreamer to wake up feeling anxious and frightened.

Consciousness

The quality or state of being aware of an external object or something within oneself.

Phencyclidine

A hallucinogenic drug known as PCP, which can produce dissociative effects and is abused for its mind-altering properties.

Opioid

A class of drugs that include both legal prescription pain relievers and illegal drugs, known for their pain-reducing and euphoria-inducing properties.