Under IPSAS 9, when should revenue from exchange transactions be recognized
Under IPSAS 9, when should revenue from exchange transactions be recognized?
A) When cash is received
B) When the significant risks and rewards of ownership have been transferred
C) When the contract is signed
D) When production is complete
Answer: B
Explanation: IPSAS 9 requires revenue from exchange transactions to be recognized when the significant risks and rewards of ownership have been transferred to the buyer.
