The fact that any problems a seller has in collecting amounts due from customers is accounted for separately is implied in the language of:
A)step 3 "entitled to."
B)step 5 "when (or as)each performance obligation is satisfied."
C)step 1 "it can be written,verbal,or merely implied."
D)step 2 "transferring control of goods or services to a customer."

Question

Quizplus · Accepted Answer

The words "entitled to" in step 3 of the model imply any problems in later collecting amounts due from customers are accounted for separately.

The Fact That Any Problems a Seller Has in Collecting