Question: Tic Ltd sells goods to Toc Ltd and issues an invoice on 8 August. Toc Ltd requests that Tic Ltd delay shipment of the goods

Tic Ltd sells goods to Toc Ltd and issues an invoice on 8 August. Toc Ltd requests that Tic Ltd delay shipment of the goods until the 25 August when they expect to have finished preparing their site for the goods. The goods can then be delivered on 26 August. Toc Ltd pays for the goods on 12 August and accepts full responsibility for the goods from this payment date. Assuming all other revenue recognition criteria are met, on which date can Tic Ltd recognise revenue for the sale of these goods?

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