CERTYNEX IFRS ACADEMY

At 30 September 20X1, Ventis is analysing several deliveries of equipment. Which of the following situations indicate that the customer (or the third party) has not yet obtained control of the delivered equipment?

The customer has legal title to the equipment, stored in its warehouse.

Acceptance covers performance in the customer's environment that Ventis cannot objectively verify, and it has not yet taken place.

Ventis has a present right to payment for the delivered equipment.

The distributor holds the equipment, but Ventis can require its return or its transfer to another distributor.

The equipment is delivered for an ongoing trial, with no commitment to pay before the trial ends.