For each of the following situations use the IFRS revenue-recognition criteria to determine when revenue should be recognized. Explain your reasoning.

a. A driver purchases $100 of gas for cash at a local Petro-Canada Station.

b. A hockey fan purchases season tickets for the Edmonton Oilers. The price includes tickets for the team’s 41 home games plus exhibition games. Ticket buyers pay the full price of the tickets in the summer before the season begins and receive the tickets at the time of payment. Once purchased there are no refunds.

c. WestJet Airlines sells a ticket to a traveller for a trip next year. The traveller pays in full at the time of purchase, using his MasterCard. The ticket is refundable.

d. A parents’ magazine sells a three-year subscription for $33. The subscriber makes the payment when she subscribes.