Economics · Accounting Standards
Under IFRS 15 (Revenue from Contracts with Customers), which of the following is an indicator that a performance obligation has been satisfied at a point in time?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The customer simultaneously receives and consumes the benefits provided by the entity's performance
- 2The entity's performance creates or enhances an asset that the customer controls as it is created or enhanced
- 3The entity's performance does not create an asset with an alternative use and the entity has an enforceable right to payment
- 4The customer has the significant risks and rewards of ownership of the asset✓
Correct answer
The customer has the significant risks and rewards of ownership of the asset
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