Accountant Staff Interview Questions and Answers

Revenue should be recognized in case of ex work inco term when the risks and rewards of ownership have been transferred to the buyer.

• Revenue should be recognized when the seller has completed its obligations under the ex work inco term.

• The transfer of risks and rewards of ownership to the buyer is a key factor in determining when revenue should be recognized.

• The seller should have no significant continuing involvement or control over the goods after they have been delivered t...read more