1.The core principle of IFRS 15 is that an entity will recognise revenue at an amount that reflects the consideration, which requires entities to apply a five-step. One of the following is not consider as step in this model:

Select one:

a.Identify the probability of occurrence

b.Determine the transaction price

c.Identify the contract(s) with a customer

d.Allocate the transaction price to the performance obligations in the contract

2.Governance could be described as:

Select one:

a.The system by which companies are directed and controlled in the interests of shareholders and other stakeholders.

b.None of the given choices

c.The need to monitor major forces through risk analysis

d.The wider view of corporate position in the world through social responsibility and ethical decisions.