Later, he made a cash OIC of $842,061, based on doubt as to collectibility.
There are three grounds for an OIC: (1) doubt as to collectibility, (2) doubt as to liability, and (3) an equity offer.
With a mintage for circulation of 8,190,00, it has the lowest rating of ‘one’ for collectibility and scarcity.
Following ASU 2016-12, revenue is deferred until either the collectibility threshold or an events test is met.
It does go to show that there’s something to be said for collectibility.
There have been many such crazes in the past that have relied upon collectibility or competition, but the fidget spinner has gained popularity in such a short time just because its addictive nature.
Jason often produces his knives in limited editions of 500 units, which adds to their collectibility –and they sell out fast.
Following an extensive analysis of the situation, Comerica has determined that there was significant doubt as to collectibility of the loan and, given the unique irregularities, it is believed to be an isolated incident.
* Deciding whether a contract exists for accounting purposes if collectibility is in question.
For instance, healthcare companies that provide services to self-pay patients may recognize revenue at the time the services are provided even though the collectibility is not reasonably assured.
At auction, the collectibility of Mouton-Rothschild’s labels helps inflate the wine’s already high prices.
At auction, the A collectibility of Mouton-Rothschild’s labels helps inflate the wine’s already high prices.