QUESTION 10 When should a company record the revenue related to the sale of gift cards? O At the end of the year in which the gift card is sold. O Half of the revenue when the card is sold and half when it is used. O When the gift card is used in exchange for services or merchandise. O When the gift card is sold and cash is received. QUESTION 11 Loss contingencies must be recorded if: the future event is remote. O the future event is probable and can be reasonably estimated. o the future event is reasonably possible. the amount owed cannot be reasonably estimated. QUESTION 12 Accumulated Depreciation would be classified as what type of account? expense account revenue account contra-account liability account