CPA Uganda Intermediate Practice Questions - ICPAU CPA(U) Intermediate Level Exam

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Under IFRS 15 (Revenue from Contracts with Customers), when a performance obligation is satisfied over time, which of the following represents an acceptable method for measuring progress towards complete satisfaction?

The historical cost recovery method or the gross margin method Output methods (such as surveys of performance completed) or input methods (such as resources consumed or costs incurred) The cash collection method or the percentage of contract price billed method The fair value revaluation method or the net realizable value method

Correct Answer:

Output methods (such as surveys of performance completed) or input methods (such as resources consumed or costs incurred)

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