Business, 26.08.2019 23:20 0055babs

Gaap specifies that for a seller to record revenue at time of sale when right of return exists the following conditions must be met except: (a) the seller's price to the buyer is substantially fixed or determinable at the date of sale.(b) 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. (c) the buyer's obligation to the seller changes in the event of theft or physical destruction or damage of the product.(d) the amount of future returns can be reasonably estimated.

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