Sales revenue is measured as the market value of the consideration received, or the book value of the item sold, whichever is more reliable.

Question

Quizplus · Accepted Answer

Sales revenue is measured as the market value of the consideration received or receivable from the sale of goods or services in the ordinary course of an entity's business. The book value of the item sold is not a factor in determining sales revenue.

Sales Revenue Is Measured as the Market Value of the Consideration