Two criteria are specified in AASB15 para. 27. The one is that the customer can benefit from the good or service on its own or in conjunction with other readily available resources (criteria A). The other is that the entity’s promise to transfer the good or service to the customer is separately identifiable in the contract (criteria B). To identify the distinct good or service, Reading required:            Learning objective 16.3.2 on page 521Group of answer choiceseither criteria A or criteria B needs to be satisfied.only the criteria A needs to be satisfied.only the criteria B needs to be satisfied.both criteria A and criteria B need to be satisfied.

The purchase criteria of having products available when they are needed by customers is called _________.Multiple Choicequalityvarietytimelinessservice

Multiple Choice Question______ reflects the degree to which a good or service meets the demands and requirements of customers.Multiple choice question.QualityProductivityOutsourcingConsumption

3. Which of the following are part of the criteria that must be met when accounting for a contract with a customer?I. Commercial substance.II. Approval of the contract by all parties.III. Identification of the payment terms for the goods/services.IV. The collection of the consideration from the customer is remote.  Reading required:    Learning objective 16.3.1 on pages 520-521Group of answer choicesI, II and IV.I, III and IV.II and III only.I, II and III.

In regards to requirements, BAs need to expect _____ and look for it.Select an answer:customer delightvalueboundarieschange

Which of the following needs pertains to the intended performance of a product or service?Multiple ChoiceNeed recognitionFunctional needsDemographic needsPsychological needsCultural needs