Question
A software company enters into a ₹10 lakh contract including installation and training. Installation is ₹8 lakh and training ₹2 lakh. Installation completes in March 2024 and training continues till May 2024. As per Ind-AS 115, how much revenue should be recognised by 31st March 2024?
More Accounts Questions
- Accrual concept of accounting requires:
- As per AS 16, borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset should be:
- The Bank overdraft repayable on demand will be reported in the cash flow statement as _____
- A Public Cloud is characterized by:
- Customer pays 60% upfront, 20% on customization completion (month 5), and 20% at end of PCS (month 24). Market borrowing rate for the customer is 10% p.a.;...
- An insurance company invests a large portion of its funds into corporate bonds rated BBB. After a sudden downgrade to junk status, the insurer faces loss o...
- In project finance, a 'Special Purpose Vehicle (SPV)' is created primarily to:
- A manufacturing company prepares a flexible budget for its production costs. At 60% capacity, its total cost is ₹6,00,000, including ₹2,40,000 fixed cost. ...
- Read the given statements carefully and select the most appropriate option. (i) In economics, demand means desire backed by the purchasing power and willi...
- Which of the following are needed for the analysis of the financial statements of a company?
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt