Which of the following is not an indicator to determine when control transfers?
A) Seller has present right to payment for the asset.
B) Customer has significant risk and rewards of ownership of the asset
C) Seller has legal title to asset
D) Seller has transferred physical possession of the asset.

Question

Quizplus · Accepted Answer

The seller having legal title to the asset is not an indicator of control transfer. Control is more about the customer's ability to direct the use and obtain benefits from the asset, which is not necessarily linked to legal title.

Which of the Following Is Not an Indicator to Determine