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Hi there.
I wanted clarification on what exactly “For sales made under the price promise, compare the level of claims made to date with the refund liability recognized and assess whether it is reasonable” means as a substantive procedure for revenue.
Can you please explain to me what this means in layman’s terms, and exactly how its a substantive procedure for revenue.
Also, what is a price promise?
Thank you.
See here https://opentuition.com/topic/darjeeling-sep-dec-18-price-promise
Here is a price promise from John Lewis:
CONDITIONS FOR PRICE MATCHING
We don’t expect you to find a lower price at another high street competitor for the same individual product, sold with the same service conditions – but if you can, we’ll match the price when you buy, or refund the difference for up to 28 days after you’ve purchased from us when you make a price match claim.The promise to refund the difference is an obligation.
And welcome to my forum – it’s nice that you want to help students but please can you confine posting of answers to these student forums https://opentuition.com/forum/acca-forums – which invite students to help each other …
… and not to these tutor forums https://opentuition.com/forum/ask-acca-tutor-forums – which are the responsibility of individual tutors.
Oh I apologize for that. I’m quite new on this platform, so I wasn’t aware of that.
Thank you Ma’am.
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