Final answer:
The statement is true: the deposit method of accounting only recognizes revenue when the sale is complete and collection of payment is reasonably assured.
Step-by-step explanation:
Under the deposit method of accounting, no revenue is recognized until the sale is considered complete. Revenue recognition under the deposit method happens only when the earnings process is largely complete and the collection of the sale price is reasonably assured. This contrasts with other methods, such as accrual accounting, where revenue may be recognized at different points during the sales process.