Which of the following is not a condition to be satisfied when recognising revenue from the sale of goods or services?
A) The seller retains control over the goods.
B) Reliable measurement of the transaction costs.
C) The probability of future economic benefits flowing to the seller.
D) Transfer of the significant risks and rewards of ownership of the goods from the seller to the buyer.

Question

Quizplus · Accepted Answer

The correct condition for recognizing revenue from the sale of goods or services involves the transfer of significant risks and rewards of ownership from the seller to the buyer, not the retention of control over the goods by the seller.

Which of the Following Is Not a Condition to Be