Any of the following criteria is considered satisfaction by an entity of performance obligation over time, except Group of answer choices a. The entity has already transferred the control, title, and risk/rewards of ownership of the asset to the customers upon delivery of the asset b. The customer simultaneously receives and consumes all of the benefits provided by the entity as the entity performs c. The entity’s performance creates or enhances an asset that the customer controls as the asset is created. d. The entity’s performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date.
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Under IFRS 15, an entity recognizes revenue from contract with customers when or as the entity satisfies the performance obligation. Any of the following criteria is considered satisfaction by an entity of performance obligation over time, except
Group of answer choices
a. The entity has already transferred the control, title, and risk/rewards of ownership of the asset to the customers upon delivery of the asset
b. The customer simultaneously receives and consumes all of the benefits provided by the entity as the entity performs
c. The entity’s performance creates or enhances an asset that the customer controls as the asset is created.
d. The entity’s performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date.
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