IFRS 15 sets out the presentation requirements for contract assets and contract liabilities. Which one of the following statements is correct?

A) When the customer performs first by prepaying its promised consideration the entity has a contract asset and has the obligation to transfer the goods or services.

B) A contract asset is conditional if an entity must first satisfy another performance obligation in the contract before it is entitled to payment from the customer.

C) A contract asset arises if an entity has a right to an amount of consideration that is conditional before the entity transfers a good or service to the customer.

D) A contract asset is conditional and therefore an IFRS 9 receivable if nothing other than the passage of time is required before payment of the consideration is due.