Question
Which of the following statements is
FALSE?Solution
This statement is incorrect because revenue recognition is not solely dependent on cash receipt. According to AS-9 (Accounting Standard 9) on Revenue Recognition, revenue should generally be recognized when certain criteria are met, regardless of whether cash has been received. These criteria include: ï‚§The significant risks and rewards of ownership have been transferred to the buyer. ï‚§The seller retains no effective control over the goods or services. ï‚§The amount of revenue can be reliably measured. ï‚§It is probable that economic benefits associated with the transaction will flow to the seller. ï‚§The costs incurred or to be incurred in respect of the transaction can be reliably measured. In short, revenue recognition is based on the fulfillment of specific criteria, and cash receipt is not the sole determining factor.
Select the incorrectly spelt word.
Select the INCORRECTLY spelt word.
The longevity (A) of the product is also assured (B) as the gold is plated (C) rather than applied as a coated (D) .
...Select the most appropriate ANTONYM of the bold word.
The manager was suspended as he was having a clandestine affair.
In the following questions, the descriptive sentence is aptly described by just one word. Select the choice which gives the meaning most appropriately....
1) he tried to
2) very his diet
3) after the suggestion
4) of the doctor
5) No error
In the following questions, out of the four alternatives, choose the one which best expresses the meaning of the given word as your answer.
E...
The aspirations (A) of the Dravidian model of development (B) and other regional-specific aspirations should synchronised (C) with the holistic (D) conc...
TRANSFORM
Choose the word similar in meaning to the given word:
Recalcitrant