Which of the following conditions must be satisfied before revenue from the rendering of services can be recognized?
- The costs incurred for the transaction and the costs to complete the transaction can be measured reliably
- The progress payments and/or advances received from customers are similar to the costs incurred.
- The amount of revenue can be measured reliably.
- It’s probable that the economic benefits associated with the transaction will flow to the enterprise.
- The stage of completion of the transaction at the reporting date can be measured reliably
- All of the above