81. If you were to ask the management to justify the accounting choice they made, how would they prefer to justify it? A. Based on the reporting objectives.B. Based on the facts and constraints.C....

81. If you were to ask the management to justify the accounting choice they made, how would they prefer to justify it?

A. Based on the reporting objectives.
B. Based on the facts and constraints.
C. Based on the facts and the objectives.
D. Based on the constraints.

82. When solving an accounting alternative choice problem, you should prepare a framework for the analysis. Which of the following is not part of that framework?

A. Identifying the personal objectives of management.
B. Identifying the users and uses of accounting information.
C. Identifying the objectives of financial reporting.
D. Identifying the constraints that can limit or eliminate the choices.

83. Wired Seniors sells computers to seniors interested in learning to use them. In addition to providing the computers, they go to the seniors' homes to help them set the computers up and then provide 20 hours of instruction and support over the next two months. The price for the computer and the follow-up instruction is $2,000 and is normally collected when the computer is installed. The computers if sold alone would sell for $1,500.



Required:


Recommend a revenue recognition policy for Wired Seniors. Support your recommendation with IFRS revenue recognition criteria.