Gil is a Baxley Co. salesman desperate to make quota by the end of year 3. On the afternoon of December 31, year 3, he convinces a longtime customer with excellent credit to sign a contract to accept delivery of Baxley Co.’s Widgetron Deluxe. Gil promises the customer a deep discount off the list price that they can ‘hash out later’ if the customer is 100% happy with the product. Gil does not tell the customer that the company’s policy in such cases is to offer the maximum discount of 30%. The customer states he will have to consult an astrologer and a groundhog to determine if he is happy with the product. Gil oversees the delivery that evening of the Widgetron Deluxe. Should the revenue from this sale be recognized in year 3? Why or why not?

No, the revenue should not be recognized in year 3.

Explanation:

In this case, the client has a right to return the Widgetron Deluxe (the product sold). Apparently the client isn't even convinced that he wants to buy it and consulting an astrologer and a groundhog on whether he should keep it or not is not something normal. Gil didn't even tell the customer the price of the Widgetron Deluxe which makes things even more messy.

Revenue from this specific sale should only be recognized after the right to return expires or both the groundhog and the astrologer are happy with it.

This question is incomplete. Here's the complete question.

Excerpt 1 from “Setting in Motion the Wheel of the Law[Dharma]” from the Tripitaka

And the Blessed One thus addressed the five Bhikkhus [men that later became Buddha’s followers]: 'There are two extremes, O Bhikkhus, which he who has given up the world, ought to avoid. What are these two extremes? A life given to pleasures, devoted to pleasures and lusts: this is degrading, sensual, vulgar, ignoble [shameful], and profitless; and a life given to mortifications: this is painful, ignoble, and profitless. By avoiding these two extremes, O Bhikkhus, the Tathâgata has gained the knowledge of the Middle Path which leads to insight, which leads to wisdom, which conduces to calm, to knowledge, to the Sambodhi, to Nirvâna.

Explain the extent to which this excerpt of Buddha’s “Setting in Motion the Wheel of Law [Dharma]” is a reliable source of evidence about the teachings of Siddhartha Gautama.

The reliability of “Setting in Motion the Wheel of Law [Dharma]” as a source of evidence about Buddha´s teachings can be questioned because it was inscribed two hundred years later in the Three Baskets of Wisdom, after being shared orally by Buddhists.

Explanation:

Beginning with the five Bhikkhus who received the message, that oral tradition, the content might have changed or become reinterpreted by those sharing it.