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Deciding whether to record a sale when the order for services is received or when the services are performed is an example of a?

a.classification issue.

b.valuation issue.

c.recognition issue.

d.communication issue.

Project Finance Cash Flow Forecasting Financial Reporting Financial Systems Feasibility Studies
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Question added by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies
Date Posted: 2015/06/07
Upvote (4) Views (53) Followers (5) Answers (5) Report Question
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Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Yes Option C is the right answer.

Abdul Majid Khatri
by Abdul Majid Khatri , A Qualified Chartered Accountant , Honeycomb Logistics Pvt. Ltd.

Recognition Issue............................!!!!!!!!!!

Shazia Anees
by Shazia Anees , Assistant Manager Finance , Arham Trading Company

option c.recognition issue.

Zehab Osman
by Zehab Osman , Accountant , Aldar Consultancy Co.

c.recognition issue---------------------

Wasim khan wazir
by Wasim khan wazir , Finance Specialist , Mott Macdonald

This is samply recognition issue. Revenue recognition criteria written IAS18.

Option C is correct

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