Revenue associated with gift card sales should be recognized:

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Revenue associated with gift card sales should be recognized:

A. When the gift card is sold.
B. No later than the last day of the operating period in which the gift card is delivered to the customer.
C. When the probability of gift card redemption is viewed as remote.
D. Under no circumstances, as gift cards are not themselves a delivered product, but rather a selling technique

Answer: C

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