Economics · Revenue Recognition Standards
Under IFRS 15, a performance obligation is satisfied at a point in time when the customer obtains control of a good or service. Which of the following is NOT an indicator of the transfer of control of goods?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The customer has accepted the significant risks and rewards of ownership
- 2The seller has transferred physical possession of the goods to the customer
- 3The customer has paid an advance deposit for the goods✓
- 4The customer has legal title to the goods
Correct answer
The customer has paid an advance deposit for the goods
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