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Fernan1999 Fernan1999
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5 years ago
What is a major difference between GAAP and IFRS with regard to recognition of revenue?
A) Under IFRS, the seller does not have to transfer risks and rewards of ownership to the buyer.
B) IFRS does not require delivery of goods for revenue to be recognized.
C) Under IFRS, the price of the goods does not have to be fixed or determinable.
D) Under IFRS, the seller may retain managerial involvement over the goods after sale.
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Intermediate Accounting

Intermediate Accounting


Edition: 1st
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cgray16cgray16
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5 years ago
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Fernan1999 Author
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5 years ago
Thank you for being such a great website leader! Your answer's right.
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