Which of the Following Statements Is Correct About the Revenue

question 58

Multiple Choice

Which of the following statements is correct about the revenue recognition criteria for the provision of services?

• A)The outcome of the transaction must be reliably estimable before the percentage of completion method can be used to record revenue.
• B)Ownership must pass to the buyer before revenue can be recorded.
• C)Stage of completion does not need to be reliably measurable.
• D)Control must pass to the buyer before revenue can be recorded.

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