Conceptual Guidance in U

Multiple Choice

Conceptual guidance in U.S.GAAP refers to the selling entity having earned the revenues (that is, having completed the earnings process) .IFRS refers to

A) transferring the risks and rewards of ownership to customers (in the case of revenues involving goods) .
B) having rendered services (in the case of revenues involving services) .
C) measuring the costs of any obligations that the seller has not performed at the time it recognizes revenue with reasonable reliability.
D) all of the above.
E) none of the above.