Regarding the effective date for ASC 606, Revenue Recognition – Revenue from Contracts with Customers, which of the following statements is not true for US companies:

A. For public companies, certain not-for-profit entities, and certain employee benefit plans, the effective date is for reporting periods beginning after December 15, 2017. 

B. For public companies, certain not-for-profit entities, and certain employee benefit plans, early adoption is not permitted for annual periods beginning before December 15, 2017. 

C. For all companies other than public companies, certain not-for-profit entities, and certain employee benefit plans, the effective date is for annual reporting periods beginning after December 15, 2018. 

D. For all companies other than public companies, certain not-for-profit entities, and certain employee benefit plans, the earliest permitted adoption date is for annual reporting periods beginning after December 15, 2016.

Answer rating: 100% (QA)

C For all companies other than public companies ce... View the full answer