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Discuss the following: A partner insists that a main indicator of if control has passed to the customer is if revenue has been earned. Is

Discuss the following:

  • A partner insists that a main indicator of if control has passed to the customer is if revenue has been earned. Is this a true statement? Why/why not?
  • A partner wants to know when you should consider fulfillment of the performance obligation and recognize revenue over a period of time instead of at a point in time. Explain the difference between them?

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