What is the recognition criteria for revenue under IFRS - Practice (English) | ObjectiveMcq

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What is the recognition criteria for revenue under IFRS - Practice (English) | ObjectiveMcq

PracticeBusiness ManagementAccounting Standards (IFRS, GAAP)What is the recognition criteria fo...

Accounting Standards (IFRS, GAAP)Business ManagementEasy

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What is the recognition criteria for revenue under IFRS?

Correct Answer:

(C) When the risks and rewards of ownership have transferred to the customer

Explanation:

When the risks and rewards of ownership have transferred to the customer

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