An Entity Shall Recognise Revenue from a Contract When

question 20

Multiple Choice

An entity shall recognise revenue from a contract when:

• A) the entity has satisfied the performance obligation.
• B) the goods or service have been transferred to the customer.
• C) the customer obtains control of the goods or service.
• D) All of the given answers are necessary for recognition of revenue from a contract.

Recognize the steps and ethics involved in the research process.

Determine the importance of having a clear research goal before starting the information-seeking process.

Evaluate the credibility and relevance of sources for research purposes.

Understand the concept of bias in information sources and how to identify it.

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Definitions:

Ex-dividend Date

The date on which a stock begins trading without the right to receive the next declared dividend, effectively setting the cut-off for new investors to benefit from the upcoming dividend payment.

Date Of Record

The date set by a corporation on which the shareholders must be registered to be eligible to receive dividend payments.

Stock Split

An action by a company to increase the number of its outstanding shares by issuing more shares to current shareholders.

Market Price

The amount at which an asset is bought or sold in the market.