Thursday, 3 March 2016

Cima F1 Exam Question No 41

Question No 41:

IAS 18 Revenue sets out criteria for the recognition of revenue from the sale of goods. Which ONE of the following is NOT a criterion specified by IAS 18 for recognising revenue
from the sale of goods?

The seller no longer retains any influence or control over the goods.
The cost to the seller can be measured reliably.
The buyer has paid for the goods.
The significant risks and rewards of ownership have been transferred to the buyer.

Answer: C

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