Question
A construction company signs a ₹50 crore contract for
building a bridge over 5 years. It recognizes revenue based on the percentage-of-completion method. At the end of Year 2, 40% work is complete. What is the revenue to be recognized?Solution
Under Ind AS 115, revenue = % completed × Contract Value = 40% × ₹50 crore = ₹20 crore.
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