Unconditional promises to give are recognized when the promise is made net of estimated uncollectible receivables.

Name: Unconditional promises to give are recognized when the promise is made net of estimated uncollectible receivables.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Unconditional promises to give are recognized at their net realizable value, which takes into account the estimated uncollectible amount. This is in accordance with accounting standards such as FASB ASC 958-605.

Unconditional Promises to Give Are Recognized When the Promise Is