Fundamentals of Revenue Recognition Quiz

What is the objective of determining whether a company's obligation is to transfer individual/independent goods and services to the customer or to transfer a combined interrelated item?

• To decide when revenue can be recognized

• To measure progress toward completion

• To determine if the product or service is separated from each other

• To record costs for each product or services

What is the purpose of the time value of money in revenue recognition?

• To measure progress toward completion

• To account for opportunity cost in the revenue recognition

• To account for financing components

• To increase the accuracy of the cost recorded

Kapan perusahaan dikatakan telah memenuhi kewajibannya dalam suatu kontrak penjualan?

• When the customer agrees to the contract

• When the customer obtains control of the good or service

• When the company receives payment

• When the company delivers the product

Apa salah satu tujuan dari mengidentifikasi kewajiban yang terpisah dalam suatu kontrak?

• To complicate the accounting principles

• To recognize revenue in the correct period for each performance

• To determine the cost of goods sold for each performance

• To maximize profits for each distinct performance

To determine a transaction price, these factors should be considered, except...

• Delivery time

• Time value of money

• Variable consideration

• Consideration paid or payable to customers

Pada langkah mana dalam pengakukan pendapatan, akuntan harus mempertimbangkan diskon penjualan yang diberikan oleh perusahaan?

• Idenfity the contract

• Allocate the transaction price to separate performance obligations

• Determine the transaction price

• Identify the separate performance obligations

Incorp Ltd enters a contract with Kwan Hee Co. to deliver industrial equipment. The contract amount is Rp100.000.000 which includes installation and training. The standalone prices for installation and training are Rp5.000.000 and Rp15.000.000, respectively. Assuming that the equipment, installation, and training are considered to be distinct performances, how much transaction price should be allocated to training?

• Rp10.000.000

• Rp12.500.000

• Rp15.000.000

• Rp17.500.000

PT ABC menandatangani kontrak penjualan furnitur sebesar Rp30.000.000 pada tanggal 15 Oktober 2023. Mengacu pada kontrak tersebut, barang harus dikirim dari gudang penjual pada tanggal 20 Desember 2023 dengan ketentuan risiko kerusakan selama pengiriman ditanggung penjual. Barang sampai di gudang pembeli pada tanggal 31 Desember 2023 dan mendapatkan pembayaran atas penjualan tersebut pada tanggal 15 Januari 2024. Kapan PT ABC bisa mencatat transaksi tersebut sebagai pendapatan

• 15 Oktober 2023

• 20 Desember 2023

• 31 Desember 2023

• 15 Januari 2023