Question: 13. ACY Limited (ACY) received a purchase order from a customer for a batch of inventory on 1 March 2018. After a weeks discussion, a

13.

ACY Limited (ACY) received a purchase order from a customer for a batch of inventory on 1 March 2018. After a weeks discussion, a contract was signed by both parties for the sales of goods on 20 March 2018. The goods were delivered to the customer on 10 April 2018 by ACY, and the amount was settled on 12 April 2018 by the customer.

Question

On which of the following date shall revenue be recognized by ACY?

Select one:

10 April 2018

20 March 2018

1 March 2018

12 April 2018

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