The transaction price when non-monetary assets are involved in a sale is the value of the non-cash consideration received.

Question

Quizplus · Accepted Answer

The transaction price of a sale that involves non-monetary assets is the fair value of the non-cash consideration received. This is in accordance with the accounting standard, IFRS 15 Revenue from Contracts with Customers. Therefore, the statement is true.

The Transaction Price When Non-Monetary Assets Are Involved in a Sale