satisfied over time if: Group of answer choices The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs.
satisfied over time if: Group of answer choices The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A performance obligation is satisfied over time if:
Group of answer choices
The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs.
All of these are correct.
The entity’s performance creates an asset with an alternative use to the entity and the entity does not have an enforceable right to payment for performance completed to date.
The entity’s performance creates or enhances an asset that the entity controls.
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