ANSWER TRUE OR FALSE AND EXPLAIN FULL 4. When the right of return exists, revenue can be recognized at the point of sale if the seller can make...

4. When the right of return exists, revenue can be recognized at the point of sale if the seller can make reliable estimates of future returns. True

5. Due to fiscal strategic conservatism, there is typically a postretirement liability for postretirement benefit plans since very few are funded. False

6. Expense timing differences typically result in deferred tax liabilities as such amounts increase taxable income in future years. True