Question 21 3 pts Which of the following statements is NOT true regarding gift card revenue recognition? When a gift card is sold, the seller establishes a liability on its balance sheet. Breakage can only be recognized as revenue to the extent that it is probable a reversal will not be necessary. O Breakage refers to the unused portion of gift card balances. The amount received from the sale of gift cards is required to be recognized as revenue when the gift cards are sold. Previous