Under ASPE,when Revenue Is Earned from the Sale of Goods

question 34

Multiple Choice

Under ASPE,when revenue is earned from the sale of goods under the earnings based approach,all of the following criteria must be met before revenue can be recognized except

• A)the amount of consideration received can be measured with reasonable assurance.
• B)collection is reasonably assured.
• C)all sales returns and allowances have been recorded.
• D)risks and rewards of ownership have been transferred to the customer.