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What is your advice to the quick-pass

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Reference no: EM132010900

Question - The Quick-Pass CPA review company charges $10,000 for its review classes, and offers a "money back" guarantee, if the student does not pass on the first try. The company collects $50,000 from students and its first class, which was held from July through October 2014. Since the grades of the students on the November exam will not be known until January 2015, the owner of Quick-Pass intends not to recognize any income until the number of students who actually pass is known, so that he can report income and refunds in the same year. What is your advice to the Quick-Pass?

Reference no: EM132010900

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