Gunk goblin sells vacuums and just launched a policy where customers have the right to return a vacuum during a three-year period following purchase. gunk management has no experience under this sort of policy and does not believe it can accurately estimate returns. what is the longest period of time that gunk may have to wait before recognizing revenue associated with one of these sales? a. no time delay, recognize revenue upon delivery. b. gunk should recognize revenue as cash is received. c. gunk should defer revenue recognition until costs are recovered. d. three years, after the right of return has expired.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively