Under the ASPE revenue recognition standard, a sales transaction must satisfy three criteria before the seller can recognize revenue. Which of the following is not a criteria?

Question

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The three criteria required for revenue recognition under the ASPE standard are: (1) the ownership (or control) and benefits of the goods have been transferred to the customer, or the services have been provided to the customer; (2) the amount of revenue to be received can be reliably measured; and (3) it is probable that the customer will pay for the goods or services when payment becomes due. There is no mention of a decrease in future economic benefits caused by a decrease in an asset or an increase in a liability being a criteria for revenue recognition.

Under the ASPE Revenue Recognition Standard, a Sales Transaction Must