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Following IPSAS 9 'Revenue from Exchange Transactions', which of the following criteria must be satisfied...

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Accounting

Following IPSAS 9 'Revenue from Exchange Transactions', which of the following criteria must be satisfied before revenue from the sale of goods should be recognised?

Please select the right answer.

Revenue can be reliably measured AND managerial control over the goods sold has been resigned

Ownership has been transferred to the buyer AND revenue can be reliably measured

Managerial control over the goods sold has been resigned AND ownership has been transferred to the buyer

Ownership has been transferred to the buyer AND the outcome of the revenue transaction is certain

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