What characterizes the accounting for subscription returns in publishing companies? What characterizes the accounting for subscription returns inpublishing companies?a) Record as regular sales returnsb) Estimate based on historical patterns at point of salec) Recognize when returns are receivedd) No provision until cancelled

Option a: This option is incorrect because regular sales returns is not a unique characteristic of…

Answered: What characterizes the accounting for…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter2: The Basics Of Record Keeping And Financial Statement Preparation: Balance Sheet

Section: Chapter Questions

Problem 8E

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What characterizes the accounting for subscription returns in publishing companies? a) Record as regular sales returns b) Estimate based on historical patterns at point of sale c) Recognize when returns are received d) No provision until cancelled