Bellarine Plc Is Publisher of Mode Magazine and Its Customers

Multiple Choice

Bellarine Plc is publisher of Mode magazine and its customers usually sign a three-year subscription with an advance payment of €500.Mode magazine has 12 issues in a year.What is the appropriate accounting treatment for this sale on the date of signing that is in accordance with IASB (2011) Revenue?

A) Recognise revenue in full as this is an immaterial amount.
B) Recognise the sale as a provision.
C) Recognise the sale as unearned revenue.
D) Disclose the sale in the notes as a contingent item.