Does anyone believe gift cards should have an expiration date.

Please discuss whether or not you believe that gift cards should have an expiration date, and based on your response, what is the implication related to the accounting treatment of the transaction?
Plz help as I am rlly desperate for an answer. Thank you to anyone that does help me out.
Anonymous User
Anonymous User
Asked Jul 11, 2011
Fairness dictates there should be a date by which the money is refunded to the purchaser if not used and carried as a liability until it is either used or refunded.

A gift card only guarantees that the purchaser's money is spent at the place he/she bought the card. What's in that deal for either the person that bought the card or the person that received it? All of the problems can be eliminated by simply writing a check that can be spent anywhere they want.
Answered Jul 11, 2011
Gift cards should definitely not have an expiry date so that we customers can use them whenever we want to, in the future, according to our convenience. In fact all the cards from Giftcardspread dont have expiry dates and can be used according to our convenience. I'd recommend you to visit these guys - they are awesome and offer crazy discounts!
Answered Dec 07, 2016

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