Final answer:
Under the deposit method, revenue is recognized at the time of sale, not when the sale is complete.
Step-by-step explanation:
Under the deposit method, no revenue is recognized until the sale is complete. This statement is False.
According to the deposit method of revenue recognition, revenue is recognized at the time of sale, not when the sale is complete. Under this method, revenue is considered earned when payment is received and a liability is created in the form of a customer deposit. The revenue is recognized in the accounting records at this point, even if the product or service has not been delivered or completed.