revenue should be recognized. 10 Tapauit Sdn Bhd specializes in catering and delivery services around Bangi. The services are provided for lunch and dinner, from Monday to Friday. Weekly (five days) or monthly (20 days) orders must be made and paid five days in advance of delivery. Changes in the date of delivery or any cancellation must be made within 48 hours before the scheduled delivery. Cancellations made less than 48 hours are still considered as delivery. Refunds for cancellation will be made the following month, with a 10 per cent cancellation fee. Food is delivered in special Tapauit tiffins. Customers are charged a deposit of RM50 for the tiffins. The deposits are returned to the customers upon termination of services. Required: Comment by providing your justification whether the following recognition policies practised by Tapauit Sdn Bhd are in line with the requirements of the conceptual framework: (a) Revenue from services is recognized five days before delivery. (b) Tiffin deposits are recognized as revenue when payment is received from customers. (c) Cancellation fees are recognized as revenue while refunds made are recognized as losses. (d) Tapauit tiffins were bought in bulks at a special discounted price of RM55 per tiffin. Based on experience, the tiffins could be used for three years. Payments made to purchase tiffins were recognized as expenses in the period they were incurred