Question in accordance with ias 18 resolve the following, Ask an Expert

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Question: In accordance with IAS 18: Resolve the following exercise Company A sells goods on board (FOB), which means that the title does not pass to the buyer until delivery, and company A is responsible for any loss in transit. To protect itself from loss, Company A signs a contract with the shipping company for the shipping company to assume the total risk of loss while the goods are in transit.

Answer: Is it appropriate for company A to recognize revenue when products are shipped?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92760746

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