Question

Revenue is recognized at a single point in time when a. The seller is producing a custom order. b. A service is being performed by the seller and consumed by the buyer over time. c. The customer is using or controlling an asset while it is being built. d. Control of an asset has transferred from the seller to the customer.

Answer 1

Control of Asset has Transferred from the Seller to Customer.

Step-by-step explanation:

When control of asset is transferred to customer from seller. The transaction is deemed satisfied. The transaction price of the asset is therefore recognized as revenue.