Which of the following statement indicates that an entity is not an agent in accordance with...
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Which of the following statement indicates that an entity is not an agent in accordance with AASB15 Revende from Contracts with Customers? The entity does not have inventory risk before or after the goods have been ordered by a customer, during shipping or on return. The entity is not exposed to credit risk for the amount receivable from a customer in exchange for the other party's goods or services. Another party is primarily responsible for fulfilling the contract. The entity does have discretion in establishing prices for the other party's goods or services and, therefore, the benefit that the entity can receive from those goods or services is limited. Which of the following statement indicates that an entity is not an agent in accordance with AASB15 Revende from Contracts with Customers? The entity does not have inventory risk before or after the goods have been ordered by a customer, during shipping or on return. The entity is not exposed to credit risk for the amount receivable from a customer in exchange for the other party's goods or services. Another party is primarily responsible for fulfilling the contract. The entity does have discretion in establishing prices for the other party's goods or services and, therefore, the benefit that the entity can receive from those goods or services is limited.
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Related Book For
Auditing and Assurance Services A Systematic Approach
ISBN: 978-1259162343
9th edition
Authors: William Messier, Steven Glover, Douglas Prawitt
Posted Date:
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