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Which of the following statements is NOT correct about the revenue recognition policy of the Company. Refer to the notes to the financial statements for
Which of the following statements is NOT correct about the revenue recognition policy of the Company. Refer to the notes to the financial statements for "Significant Accounting Policies". A liability for sales returns is based on historic rates of return. Unredeemed gift cards which have a non-remote likelihood of redemption are recorded as deferred revenue. Gift card breakage is not recorded as a revenue even if the likelihood of gift card redemption is remote. Sales to customers through retail stores are recognized at the time of purchase, net of a provision for returns
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