Which of the following is true regarding an agent?

• The revenue recorded by the agent is the sales price of the product

• The revenue recorded by the agent is set by the agent, without input from the principal

• The agent has a performance obligation to provide the goods and services in all circumstances

• The agent’s revenue is equal to the commission it is entitled to receive on each transaction

Answer rating: 100% (QA)

Correct answer is The agent revenue is equal to th... View the full answer