Suppose that Robert Jones purchases a €100 gift voucher at Carrefour (FRA) on H December 24, 2011, and gives it to his wife, Devon, on December 25, 2011. On January 3, 2012, Devon uses the voucher to purchase €100 worth of CDs. When do you think Carrefour should recognize revenue, and why?

Suppose that Robert Jones purchases a €100 gift voucher at Carrefour (FRA) on H December 24, 2011, and gives it to his wife, Devon, on December 25, 2011. On January 3, 2012, Devon uses the voucher to purchase €100 worth of CDs. When do you think Carrefour should recognize revenue, and why?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 56P

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Suppose that Robert Jones purchases a €100 gift voucher at Carrefour (FRA) on
December 24, 2011, and gives it to his wife, Devon, on December 25, 2011. On
January 3, 2012, Devon uses the voucher to purchase €100 worth of CDs. When do you think
Carrefour should recognize revenue, and why?

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