A key criterion for sale of goods revenue is transfer of what to the buyer?
AProperty in the goods
BPacking materials
CInsurance cover
DCopy of invoice
Answer & Solution
Correct answer: A. Property in the goods
The key criterion is that the seller has transferred the property in the goods to the buyer for a consideration.
Keep practising Revenue Recognition (AS 9)
Browse all Revenue Recognition (AS 9) questions for CA Inter, or explore more Accounting topics.
Related questions
Sales of Rs 1,00,000 carry a 2% volume rebate given. Revenue is what?A consignor sends 100 units at Rs 500; the consignee sold 60. Consignor's revenue?Membership fee giving only membership, with a separate annual subscription, is booked whenFees of Rs 36,000 cover a 9-month course. Revenue for 3 months is what?Fees for a season ticket to many events are allocated how?Trade discounts received are not revenue because they are what?Trade discounts and volume rebates given are treated how?Interest on an instalment sale is recognised in proportion to what?