1. When is the timing for revenue recognition for interest?

a. At the time a loan is made b. when service is performed c. When loan expires d. At time passes

2. Under the allowance method, bad debt expense is recognized

a. when an indivdual acount is written off b. when the loss amount is known c. for an amount that the company estimates it will not collect d. several times during the accounting period.

3. When should revenue be recognized when right of return exists?

a. at the time of sale b. at the time return previlage expires c. at the time of sale only if return can be estimated d. at the time of sale only if the six conditions are met.