The Introduction of IFRIC 13 Customer Loyalty Programmes Had the Following

question 21

Multiple Choice

The introduction of IFRIC 13 Customer Loyalty Programmes had the following impact on revenue recognition policies for entities in the airline industry:

• A) no impact
• B) reduced the amount of revenue able to be recognised
• C) increased the amount of revenue able to be recognised
• D) changed the timing of the recognition of revenue

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Definitions:

Histamine

Substance released from mast cells that causes inflammation.

Allergic Reaction

An immune system response to a foreign substance that is not typically harmful to the body, such as pollen or certain foods.

Local Regulator

A substance (often a small protein or peptide) that acts near its site of secretion to regulate cellular or physiological activities.

Peripheral Membrane Protein

A protein associated with one of the surfaces of a biological membrane. Compare with integral membrane protein.