Question
A software firm enters a contract for software license,
customization, and after-sales support. Revenue is recognized over time for customization but at a point in time for the license. Which Ind AS governs this?Solution
Ind AS 115 deals with multi-element arrangements and prescribes when revenue should be recognized — over time or at a point — depending on control transfer.
A textbook has a total of 892 pages. It is divided into two parts. The second part of the book has 52 pages less than the first part. How many pages are...
Which of the following statements best describes a journal in accounting?
Atul has Rs.600 with him. He invested 35% of the amount at 5% p.a. for 6 years and rest at 15% p.a. for 4 years. Find the sum of simple interests receiv...
A number is decreased by 5% and then increased by 10%. What is the percent increase or decrease of the number thus obtained from the original number ?
Which of the following statements is/are not correct about the book Hind Swaraj?
1.   Written by Gandhiji in 1909
2.   Written in ...
‘Escape clause’ refers to the situation under which the central government can flexibly follow fiscal deficit targets during special circumstances. ...
What is CI on Rs. 7500 for 4 years if the rate of interest is 10% p.a. for the first 2 year and 20% p.a. for the next 2 year?Â
Questions relating to the application or interpretation of a standing order certified under the Industrial Employment (Standing Orders) Act, 1946 may b...
Select the option that represents the letters that, when placed from left to right in the same sequence in the blanks below, will complete the letter se...
A stadium has 10 gates. In how many different ways can 3 persons enter the stadium?
