Which one of the following situation where a performance obligation is satisfied over time ? a- The entity's performance creates an asset that the customer controls as it is created b- The customer does not receive or consume the benefits provided by the entity's performance until the obligation is completely satisfied c- The entity does not have an enforceable right to payment for the performance that has been completed to date d- The entity's performance creates an asset which has an alternative use to the entity
Which one of the following situation where a performance obligation is satisfied over time ? a- The entity's performance creates an asset that the customer controls as it is created b- The customer does not receive or consume the benefits provided by the entity's performance until the obligation is completely satisfied c- The entity does not have an enforceable right to payment for the performance that has been completed to date d- The entity's performance creates an asset which has an alternative use to the entity
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 20GI: If the sellers performance creates on asset (e.g., work in progress) that the customer controls as...
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Which one of the following situation where a performance obligation is satisfied over time ?
a- The entity's performance creates an asset that the customer controls as it is created
b- The customer does not receive or consume the benefits provided by the entity's performance until the obligation is completely satisfied
c- The entity does not have an enforceable right to payment for the performance that has been completed to date
d- The entity's performance creates an asset which has an alternative use to the entity
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