1. Sales discounts are a reduction in revenue rather than being treated as an expense.

True

False

2.Under the gross method, customers return of inventory reduces net sales.

True

False

3. The total amount of revenue that will be recognized does not depend on the number of separate performance obligations.

True

False

4. To be able to recognize revenue, cash must already have been received

True

False

5.Write-offs of uncollectible accounts receivable reduces the net realizable value of accounts receivable.

True

False