Economics · Accounting Standards
Which of the following combinations indicates that a performance obligation is satisfied over time?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The asset has no alternative use, and the entity has an enforceable right to payment for performance completed to date✓
- 2Legal title transfers only on completion of construction
- 3The customer physically possesses the asset
- 4The customer has accepted the completed asset
Correct answer
The asset has no alternative use, and the entity has an enforceable right to payment for performance completed to date
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