Revenue Recognition Under IASB (2011)Revenue from Contracts with Customers Requires

Multiple Choice

Revenue recognition under IASB (2011) Revenue from Contracts with Customers requires that:

A) the entity has transferred to the buyer the significant risks and rewards of ownership.
B) the entity retains neither continuing managerial involvement to the degree normally associated with ownership nor effective control over the goods.
C) the costs incurred or to be incurred can be measured reliably.
D) there should be a direct function of the transfer of control of the goods and services to the customer.