Under IPSAS 9, when should revenue from exchange transactions be recognized
Under IPSAS 9, when should revenue from exchange transactions be recognized? (Select all that apply)
A) When significant risks and rewards are transferred
B) When control is transferred
C) When cash is received
D) When the seller retains continuing managerial involvement
Answer: A, B
Explanation: IPSAS 9 requires revenue recognition when significant risks and rewards of ownership are transferred and control is transferred to the buyer. Cash receipt is not the determining factor, and continuing managerial involvement would prevent recognition.
