Which of the Following Contracts with Customers to Provide Goods

question 1

Multiple Choice

Which of the following contracts with customers to provide goods or services in the ordinary course of business are included within the scope of IFRS 15?
I lease contracts accounted for under IAS 17 Leases;
II insurance contracts accounted for under IFRS 4 Insurance Contracts;
III financial instruments and other contractual rights or obligations accounted for under IFRS 9 Financial Instruments or IAS 39 Financial Instruments: Recognition and Measurement, IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IAS 27 Separate Financial Statements and IAS 28 Investments in Associates and Joint Ventures
IV non-monetary exchanges between entities in the same line of business to facilitate sales to customers or potential customers.

• A) I., II. and III.
• B) III. only
• C) I., II. and IV.
• D) None of the above

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Definitions:

Organizational Buying Center Cultures

The collective decision-making process and cultural norms within organizations, governing how business purchases are made.

Buying Center Concept

A collective decision-making process in organizations involving multiple individuals with different roles and responsibilities in the purchase of goods and services.

Vendor's Performance

An assessment of a supplier's ability to meet contractual agreements, including quality, delivery, and compliance.

Vendor Analysis

A process used by companies to assess the performance, reliability, quality, and cost-effectiveness of their suppliers.