Indicators that control has been transferred to a customer under the contract-based approach include all of the following,except for A)payment has been received B)transfer of risks and rewards of ownership C)physical possession D)legal title

Question

Quizplus · Accepted Answer

Payment received is not an indicator of control transfer to the customer under the contract-based approach; it is more related to the financial aspect of the transaction. The transfer of control is indicated by the transfer of risks and rewards, physical possession, and legal title.

Indicators That Control Has Been Transferred to a Customer Under