Recognize revenue only if six conditions (FAS 48) have been met: Sales When Right of Return Exists Revenue Recognition at Point of Sale (Delivery) LO
{"Image DocumentName": "Revenue Recognition at Point of Sale (Delivery)", "Image ImageDescription": "Sales When Right of Return Exists. Recognize revenue only if six conditions (FAS 48) have been met: The seller\u2019s price to the buyer is substantially fixed or determinable at the date of sale. The buyer has paid the seller, or the buyer is obligated to pay the seller, and the obligation is not contingent on resale of the product. The buyer\u2019s obligation to the seller would not be changed in the event of theft or physical destruction or damage of the product (Legal Risk). LO 2 Describe accounting issues for revenue recognition at point of sale.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}