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Which of the following is not true about deferred revenue? Multiple Choice Deferred revenue is recognized on credit sales when product is sold and collectibility

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Which of the following is not true about deferred revenue? Multiple Choice Deferred revenue is recognized on credit sales when product is sold and collectibility can be estimated. Customer prepayments typically require recognition of deferred revenue Deferred revenue with respect to gift cards is recognized as revenue when the gift cards expire. O O Deferred revenue is a liability

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