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AASB 15/IFRS 15 Revenue Recognition
AASB 15/IFRS 15 Revenue Recognition
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Question 1
Question 2
Question 3
Question 4
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According to AASB 15/IFRS 15, what is the first step in recognizing revenue?
A.
Recognise revenue when (or as) the entity satisfies a performance obligation.
B.
Determine the transaction price.
C.
Identify the contract or contracts with the customer.
D.
Identify the performance obligations in the contract.
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