Under IFRS, Which of the Following Is Not a Condition

question 43

Multiple Choice

Under IFRS, which of the following is not a condition for recognizing revenue?

• A) The amount of revenue and costs associated with the transaction can be measured reliably.
• B) It is reasonably possible that the economic benefits associated with the transaction will flow to the seller.
• C) For sales of goods, the seller has transferred to the buyer the risks and rewards of ownership and doesn't effectively manage or control the goods.
• D) For sales of services, the stage of completion can be measured reliably.